Seplat Energy’s (SEPL) Buy Rating Reiterated at Canaccord Genuity Group

Canaccord Genuity Group restated their buy rating on shares of Seplat Energy (LON:SEPL) in a report published on Thursday,Digital Look reports. They currently have a GBX 690 target price on the stock.

Separately, Citigroup increased 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 research report on Tuesday, June 2nd. Two analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of GBX 3,670.

Seplat Energy Stock Performance

Shares of SEPL stock opened at GBX 576 on Thursday. Seplat Energy has a 12 month low of GBX 236.65 and a 12 month high of GBX 620. The company’s fifty day moving average price is GBX 541.35 and its two-hundred day moving average price is GBX 485.82. The company has a debt-to-equity ratio of 47.14, a current ratio of 1.05 and a quick ratio of 1.40. The firm has a market capitalization of £3.46 billion, a P/E ratio of 19.20, a P/E/G ratio of 0.09 and a beta of 0.66.

Insider Activity

In other news, insider Christopher Okeke purchased 59,994 shares of the stock in a transaction dated Monday, June 8th. The shares were bought at an average cost of GBX 573 per share, for a total transaction of £343,765.62. Company insiders own 16.91% of the company’s stock.

Seplat Energy News Roundup

Here are the key news stories impacting Seplat Energy this week:

• Positive Sentiment: Seplat agreed to sell a 10% stake in its Nigerian joint venture to NNPC for approximately $281.6 million. The transaction should provide immediate cash, strengthen liquidity and crystallize value from the assets. Seplat will retain operatorship, limiting the operational impact of reducing its ownership. Seplat finalises $281 million asset sale deal in Nigeria
• Positive Sentiment: First-half profit surged by roughly 430% to 498% year-on-year, reaching about $164 million in some reports. Seplat also declared special dividends, improving the investment case for income-focused shareholders and signaling confidence in cash generation. Seplat posts 430% surge in half-year profit, declares special dividends
• Positive Sentiment: A court voided a House of Representatives compensation order seeking ?72.6 billion from Seplat. The ruling reduces a potentially substantial legal and cash-flow liability, although further legal or regulatory developments could remain relevant. Court Voids House of Reps’ N72.6bn Compensation Order Against Seplat
• Neutral Sentiment: Canaccord Genuity reaffirmed its “buy” recommendation and assigned a GBX 690 target, indicating additional potential upside based on its assessment of Seplat’s earnings, assets and cash returns. Canaccord Genuity Seplat rating
• Negative Sentiment: Selling part of the joint-venture interest reduces Seplat’s direct economic exposure to future production and reserves from those assets. However, retaining operatorship and receiving substantial cash may offset that longer-term dilution.

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.