SEPLAT Petroleum Development Company PLC (GB:SEPL)
LSE:SEPL
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SEPLAT Petroleum Development
(LSE:SEPL)
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Rating:71Outperform
Price Target:
539.00 p
▲(5.89% Upside)
Action:Reiterated
Date:05/02/26
The score is primarily supported by strong and improving cash-flow performance, partially offset by thin/volatile net margins and only moderate balance-sheet strength. Technically, the uptrend is strong but indicators are overextended, increasing near-term pullback risk. Valuation appears broadly neutral with a mid-range P/E and modest dividend yield.
Positive Factors
Strong cash generation
Sustained high operating and free cash flow improves financial resilience: it funds capex and midstream projects, supports dividends or buybacks, enables debt repayment and cushions commodity cycles. Strong cash conversion underpins durable capital allocation optionality.
Negative Factors
Thin net margins
Despite strong operating margins, net margins remain low, reflecting finance costs, taxes, or non‑operating items. Persistent thin net profitability constrains retained earnings and limits long-term shareholder returns, increasing sensitivity to adverse commodity or fiscal shocks.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong cash generation
Sustained high operating and free cash flow improves financial resilience: it funds capex and midstream projects, supports dividends or buybacks, enables debt repayment and cushions commodity cycles. Strong cash conversion underpins durable capital allocation optionality.
Read all positive factors
SEPLAT Petroleum Development (SEPL) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£2.86B
Dividend Yield5.64%
Average Volume (3M)188.71K
Price to Earnings (P/E)21.4
Beta (1Y)0.06
Revenue Growth49.70%
EPS Growth-5.56%
CountryUK
Employees1,446
SectorEnergy
Sector Strength52
IndustryOil & Gas Exploration & Production
Share Statistics
EPS (TTM)0.29
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
£680.00Price Target Upside33.60% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)0.56
Revenue Forecast (FY)£3.44B
SEPLAT Petroleum Development Business Overview & Revenue Model
Company Description
Seplat Energy Plc is a Nigerian firm specializing in upstream oil and gas activities, including the exploration, production, and processing of natural gas. The company extracts hydrocarbons from seven strategically located oil and gas blocks withi...
How the Company Makes Money
Seplat makes money primarily by producing and selling hydrocarbons from oil and gas assets in which it holds working interests.
1) Crude oil and condensate sales: The company earns revenue from lifting and selling crude oil (and associated liquid...
SEPLAT Petroleum Development Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
63
Positive
Cash Flow
82
Very Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 3.11B | 2.78B | 1.12B | 1.06B | 951.79M | 733.19M |
| Gross Profit | 962.23M | 833.09M | 479.90M | 532.00M | 464.74M | 285.19M |
| EBITDA | 1.49B | 1.27B | 523.19M | 427.75M | 410.71M | 404.30M |
| Net Income | 176.91M | 163.50M | 153.35M | 83.13M | 104.71M | 141.78M |
Balance Sheet | ||||||
| Total Assets | 6.16B | 6.08B | 6.40B | 3.40B | 3.54B | 3.89B |
| Cash, Cash Equivalents and Short-Term Investments | 461.68M | 458.84M | 469.86M | 450.11M | 404.34M | 324.49M |
| Total Debt | 1.06B | 1.07B | 1.44B | 757.07M | 774.23M | 770.18M |
| Total Liabilities | 4.30B | 4.24B | 4.55B | 1.60B | 1.78B | 2.19B |
| Stockholders Equity | 1.84B | 1.83B | 1.83B | 1.77B | 1.78B | 1.77B |
Cash Flow | ||||||
| Free Cash Flow | 1.14B | 821.43M | 101.86M | 261.14M | 323.56M | 199.96M |
| Operating Cash Flow | 1.48B | 1.09B | 310.00M | 445.07M | 498.89M | 369.84M |
| Investing Cash Flow | -621.36M | -624.43M | -658.94M | -162.40M | -280.95M | -165.35M |
| Financing Cash Flow | -405.64M | -619.55M | 409.59M | -196.66M | -137.03M | -100.76M |
SEPLAT Petroleum Development Technical Analysis
Negative
509.00
Price Trends
545.63
Negative
480.50
Positive
375.52
Positive
Market Momentum
-12.41
Positive
32.10
Neutral
22.67
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:SEPL, the sentiment is Negative. The current price of 509 is below the 20-day moving average (MA) of 547.09, below the 50-day MA of 545.63, and above the 200-day MA of 375.52, indicating a neutral trend. The MACD of -12.41 indicates Positive momentum. The RSI at 32.10 is Neutral, neither overbought nor oversold. The STOCH value of 22.67 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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 |
|---|---|---|---|---|---|---|---|
71 Outperform | £2.86B | 21.39 | 9.72% | 5.64% | 49.70% | -5.56% | |
69 Neutral | £4.22B | -23.64 | -4.05% | 8.77% | 57.55% | -54.80% | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
64 Neutral | £3.68B | 20.19 | 9.33% | 14.05% | 36.10% | ― | |
63 Neutral | £705.65M | 2.77 | 40.22% | 10.49% | ― | ― | |
63 Neutral | £939.33M | -18.79 | -9.06% | 9.30% | -20.00% | -154.63% | |
58 Neutral | £1.26B | -6.41 | -65.81% | 10.99% | 27.35% | -228.25% |
* Energy Sector Average
GB:SEPL
SEPLAT Petroleum Development
488.00
251.65
106.47%
GB:DEC
Diversified Energy Company
986.00
-37.55
-3.67%
GB:HBR
Harbour Energy
238.60
43.51
22.30%
GB:SQZ
Serica Energy
246.20
82.63
50.51%
GB:ENOG
Energean
697.00
-128.05
-15.52%
GB:ITH
Ithaca Energy PLC
230.40
73.08
46.45%
SEPLAT Petroleum Development Corporate Events
Regulatory Filings and Compliance
Seplat Energy Director Buys Shares, Triggers Regulatory Disclosure
Neutral
Jun 10, 2026
Seplat Energy has disclosed that independent non-executive director Christopher Okeke purchased 59,994 ordinary shares in the company on 8 June 2026 on the London Stock Exchange, at a price of £5.732191 per share. Following the transaction, O...
Business Operations and StrategyExecutive/Board Changes
Seplat Energy Sets New CEO and Chairman to Steer 2030 Growth Plan
Positive
Jun 9, 2026
Seplat Energy Plc, a leading Nigerian independent oil and gas producer with listings in Lagos and London, operates a broad portfolio of onshore and shallow-water assets in the Niger Delta, as well as export terminals and gas processing plants. The...
DividendsRegulatory Filings and Compliance
Seplat Energy Sets Naira Exchange Rate for Q1 2026 Dividends
Neutral
Jun 5, 2026
Seplat Energy has set the official currency exchange rate for shareholders who opted to receive their Q1 2026 interim and special dividends in Naira, using the Nigerian Foreign Exchange Market rate published by the Central Bank of Nigeria on 4 Jun...
Executive/Board ChangesRegulatory Filings and Compliance
Seplat Energy executives boost shareholdings after exercising long-term incentives
Neutral
May 29, 2026
Seplat Energy has reported that its chief executive, Roger Brown, and chief financial officer, Eleanor Adaralegbe, have exercised vested share awards granted under the company’s 2014 Long Term Incentive Plan from the 2021–2023 cycles. ...
Executive/Board ChangesDividendsFinancial DisclosuresShareholder Meetings
Seplat Energy shareholders approve all AGM resolutions, reinforce governance
Positive
May 21, 2026
Seplat Energy said shareholders at its thirteenth annual general meeting, held virtually under Nigeria’s new electronic meeting rules, approved all resolutions on the agenda. Investors backed the 2025 audited accounts, a final dividend, and ...
Dividends
Seplat Energy Sets FX Rate for FY 2025 Naira Dividends
Neutral
May 15, 2026
Seplat Energy has set the currency exchange rate that will be used to calculate the Naira value of its full-year 2025 final and special dividends for shareholders opting to receive payment in local currency. The company said the applicable rate is...
Business Operations and StrategyDividendsFinancial DisclosuresPrivate Placements and Financing
Seplat Energy lifts Q1 dividend as cash flow strengthens despite onshore disruptions
Positive
Apr 30, 2026
Seplat Energy reported first-quarter 2026 unaudited results showing average working interest production of 129,841 boepd, slightly down year-on-year but up quarter-on-quarter, as offshore output and NGL volumes offset onshore disruptions from unpl...
Business Operations and StrategyDividends
Seplat Energy Announces Interim and Special Dividends for Q1 2026
Positive
Apr 30, 2026
Seplat Energy has declared an interim dividend of 5 US cents and a special dividend of 4 US cents per ordinary share for the period ended March 31, 2026, payable to shareholders on the register as of June 5, 2026. The move underlines the company&#...
Financial DisclosuresRegulatory Filings and ComplianceShareholder Meetings
Seplat Energy publishes 2025 annual report and sets date for virtual AGM
Neutral
Apr 20, 2026
Seplat Energy has published its Annual Report and Accounts for the year ended 31 December 2025, alongside the notice of its thirteenth Annual General Meeting, which will be held virtually on 20 May 2026. The documents, including proxy forms, are a...
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.