SEPLAT Petroleum Development Company PLC (GB:SEPL)
LSE:SEPL
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SEPLAT Petroleum Development
(LSE:SEPL)
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Rating:70Outperform
Price Target:
560.00 p
▲(5.66% Upside)
Action:ReiteratedDate:03/01/26
The score is driven primarily by solid (but volatile) financial performance—strong cash generation and improving leverage, tempered by the sharp 2025 revenue decline and net margin compression. Technicals are a meaningful positive with a clear uptrend and strong momentum. Valuation is neutral-to-slightly negative given a moderate P/E offset by a ~3.5% dividend yield.
Positive Factors
Strong cash generation (2025)
SEPLAT’s operating cash flow (~$1.09B) and free cash flow (~$0.82B) rose materially in 2025. Durable FCF supports maintenance capex, gas projects and debt reduction without equity raises. Over the next 2–6 months this underpins capital allocation, liquidity and financing optionality.
Negative Factors
Revenue volatility and 2025 decline
SEPLAT’s revenue profile is cyclical and showed a sharp decline in 2025 after prior growth years. Persistent top-line volatility undermines multi-quarter planning for capex, offtake commitments and pricing exposure, reducing predictability of cash flows needed for strategic investment.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong cash generation (2025)
SEPLAT’s operating cash flow (~$1.09B) and free cash flow (~$0.82B) rose materially in 2025. Durable FCF supports maintenance capex, gas projects and debt reduction without equity raises. Over the next 2–6 months this underpins capital allocation, liquidity and financing optionality.
Read all positive factors
SEPLAT Petroleum Development (SEPL) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£3.10B
Dividend Yield5.64%
Average Volume (3M)188.71K
Price to Earnings (P/E)13.9
Beta (1Y)0.12
Revenue Growth159.13%
EPS Growth143.76%
CountryUK
Employees1,446
SectorEnergy
Sector Strength52
IndustryOil & Gas Exploration & Production
Share Statistics
EPS (TTM)0.08
Shares Outstanding599,944,600
10 Day Avg. Volume185,805
30 Day Avg. Volume188,707
Financial Highlights & Ratios
PEG Ratio3.60
Price to Book (P/B)1.24
Price to Sales (P/S)0.81
P/FCF Ratio2.76
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
£695.00Price Target Upside31.13% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)0.3
Revenue Forecast (FY)£2.98B
SEPLAT Petroleum Development Business Overview & Revenue Model
Company Description
Seplat Energy Plc engages in the oil and gas exploration and production, and gas processing activities in Nigeria. It generates hydrocarbon through seven oil and gas blocks in the Niger Delta region. The company also engages in the renewable energ...
How the Company Makes Money
SEPLAT makes money primarily by producing and selling hydrocarbons from its operated and non-operated upstream assets in Nigeria. Its main revenue streams are: (1) Crude oil and condensate sales: SEPLAT sells produced liquids into export or domest...
SEPLAT Petroleum Development Financial Statement Overview
Summary
Income Statement
70
Positive
Balance Sheet
62
Positive
Cash Flow
68
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 2.78B | 1.12B | 1.06B | 951.79M | 733.19M |
| Gross Profit | 833.09M | 479.90M | 532.00M | 464.74M | 285.19M |
| EBITDA | 1.27B | 523.19M | 427.75M | 410.71M | 404.30M |
| Net Income | 163.50M | 153.35M | 83.13M | 104.71M | 141.78M |
Balance Sheet | |||||
| Total Assets | 6.08B | 6.40B | 3.40B | 3.54B | 3.89B |
| Cash, Cash Equivalents and Short-Term Investments | 458.84M | 469.86M | 450.11M | 404.34M | 324.49M |
| Total Debt | 1.12B | 1.44B | 757.07M | 774.23M | 770.18M |
| Total Liabilities | 4.24B | 4.55B | 1.60B | 1.78B | 2.19B |
| Stockholders Equity | 1.83B | 1.83B | 1.77B | 1.78B | 1.77B |
Cash Flow | |||||
| Free Cash Flow | 821.43M | 101.86M | 261.14M | 323.56M | 199.96M |
| Operating Cash Flow | 1.09B | 310.00M | 445.07M | 498.89M | 369.84M |
| Investing Cash Flow | -624.43M | -658.94M | -162.40M | -280.95M | -165.35M |
| Financing Cash Flow | -619.55M | 409.59M | -196.66M | -137.03M | -100.76M |
SEPLAT Petroleum Development Technical Analysis
Positive
530.00
Price Trends
445.57
Positive
364.76
Positive
312.53
Positive
Market Momentum
21.24
Negative
75.08
Negative
96.03
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:SEPL, the sentiment is Positive. The current price of 530 is above the 20-day moving average (MA) of 488.10, above the 50-day MA of 445.57, and above the 200-day MA of 312.53, indicating a bullish trend. The MACD of 21.24 indicates Negative momentum. The RSI at 75.08 is Negative, neither overbought nor oversold. The STOCH value of 96.03 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GB:SEPL.
SEPLAT Petroleum Development Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | £3.10B | 13.86 | 8.95% | 5.64% | 159.13% | 143.76% | |
70 Outperform | £4.02B | -42.84 | -3.13% | 14.05% | 63.10% | -161.03% | |
69 Neutral | £4.89B | -24.34 | -4.05% | 8.77% | 123.03% | -330.89% | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
63 Neutral | £823.50M | 3.09 | 40.22% | 10.49% | 56.20% | -185.69% | |
63 Neutral | £1.01B | -12.95 | -7.42% | 9.30% | -32.89% | -239.58% | |
58 Neutral | £1.52B | -8.35 | -65.81% | 10.99% | -2.66% | 0.11% |
* Energy Sector Average
GB:SEPL
SEPLAT Petroleum Development
509.00
336.61
195.26%
GB:DEC
Diversified Energy Company
1,100.00
277.10
33.67%
GB:HBR
Harbour Energy
261.20
112.35
75.48%
GB:SQZ
Serica Energy
244.00
130.21
114.43%
GB:ENOG
Energean
821.50
59.09
7.75%
GB:ITH
Ithaca Energy PLC
237.80
111.73
88.62%
SEPLAT Petroleum Development Corporate Events
Business Operations and StrategyDividendsFinancial Disclosures
Seplat Energy’s Offshore Expansion Powers Surging 2025 Earnings and Higher Dividends
Positive
Feb 26, 2026
Seplat Energy reported a transformative 2025, with average production surging 148% to 131,506 boepd on the first full year of offshore consolidation and stronger onshore output, while emissions intensity on onshore assets fell 24%. The ANOH gas pl...
DividendsShareholder Meetings
Seplat Energy Announces Final and Special Dividends for 2025
Positive
Feb 26, 2026
Seplat Energy Plc has declared a final dividend of US5 cents and a special dividend of US3.3 cents per ordinary share for the year ended December 31, 2025, payable to shareholders on record as of May 15, 2026. The dividends, which will be distribu...
Business Operations and StrategyFinancial Disclosures
Seplat Energy Sets Date for Full-Year 2025 Results and Webcast
Neutral
Feb 12, 2026
Seplat Energy Plc has announced it will publish its full year 2025 financial results on Thursday, 26 February 2026, providing investors and analysts with an updated view of the company’s operational and financial performance. The disclosure ...
Business Operations and StrategyExecutive/Board ChangesM&A Transactions
Seplat Energy Reshapes Board as Tony Elumelu Joins After Heirs Stake Purchase
Positive
Jan 22, 2026
Seplat Energy has announced a board reshuffle following the divestment of Maurel et Prom’s 20.07% stake to Heirs Holdings and Heirs Energies, with Maurel et Prom nominee Olivier Cleret De Langavant stepping down as non-executive director aft...
Business Operations and StrategyProduct-Related Announcements
Seplat Energy Delivers First Gas from 300 MMscfd ANOH Project
Positive
Jan 20, 2026
Seplat Energy has brought its 300 MMscfd ANOH gas project onstream, marking first gas and the start of commercial supply to Indorama’s petrochemical operations following completion of a new export pipeline and regulatory approvals. Initial o...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.