Seplat Energy (LON:SEPL) Shares Down 9% – What’s Next?

Seplat Energy Plc (LON:SEPL) dropped 9% during mid-day trading on Thursday . The stock traded as low as GBX 477.50 and last traded at GBX 477.50. Approximately 700,118 shares were traded during mid-day trading, a decline of 42% from the average daily volume of 1,205,462 shares. The stock had previously closed at GBX 525.

Analyst Upgrades and Downgrades

Several research analysts recently commented on SEPL shares. Canaccord Genuity Group reaffirmed a “buy” rating and issued a GBX 695 price objective on shares of Seplat Energy in a report on Friday, May 1st. Citigroup boosted their target price on shares of Seplat Energy from GBX 6,550 to GBX 6,650 and gave the company a “buy” rating in a report on Tuesday, June 2nd. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of GBX 3,672.50.

Seplat Energy Stock Performance

The company has a 50-day moving average price of GBX 553.39 and a two-hundred day moving average price of GBX 426.80. The stock has a market capitalization of £2.86 billion, a P/E ratio of 15.92, a PEG ratio of 0.09 and a beta of 0.11. The company has a quick ratio of 1.40, a current ratio of 1.18 and a debt-to-equity ratio of 57.57.

Insiders Place Their Bets

In other news, insider Christopher Okeke bought 59,994 shares of the firm’s stock in a transaction that occurred on Monday, June 8th. The shares were acquired at an average price of GBX 573 per share, with a total value of £343,765.62. Company insiders own 16.90% of the company’s stock.

About Seplat Energy

Seplat Energy is Nigeria’s leading indigenous, independent oil and gas producer, producing oil and gas production volumes of 48,152 barrels of oil equivalent per day (boepd) in 9M 2023, including 117 MMscfd (20,083 boepd) of processed natural gas for domestic power generation in 9M 2023.

Seplat Energy is focused on powering Nigeria’s energy transition. Our goal is to help meet the energy needs of Nigeria’s rapidly growing population by providing accessible, reliable and sustainable energy, at the same time increasing shareholder value.