Seplat Energy stock (NGSEPLAT0008): Nigerian oil and gas producer advances while peers lag

Seplat Energy shares continued to trade steadily in early June, with the stock quoted on the Nigerian Exchange in naira and on the London Stock Exchange in pounds sterling as investors weighed the company’s role in Nigeria’s upstream oil and gas industry and its strong gains so far in 2026.

The company is one of Nigeria’s leading indigenous independent oil and gas producers and is listed on the Premium Board of the Nigerian Exchange Limited under the ticker SEPLAT, as well as on the London Stock Exchange under the ticker SEPL. The shares have delivered a significant rise over the past year, with London-listed Seplat Energy moving from around GBX 284 at the start of 2026 to about GBX 573 by 06/01/2026, according to MarketBeat. On the Nigerian market, third-party valuation data from Simply Wall St indicate a price of roughly ?11,600 per share as of late May 2026, with a modest premium versus their calculated fair value.

According to BusinessDay in Nigeria, Seplat Energy is recognized domestically as a leading indigenous energy producer with a strong presence in the country’s upstream sector, which underpins its relevance for local equity investors focused on the Premium Board of the Nigerian Exchange. For international investors, the London listing provides an additional access point in a developed market jurisdiction, allowing the stock to trade in both naira and pounds and broadening the potential shareholder base. While intraday price moves on 06/03/2026 were moderate, the sustained year-to-date performance and cross-border presence have kept Seplat Energy on the radar of traders tracking African oil and gas equities.

The stock traded at GBX 573 on 06/01/2026 on the London Stock Exchange, according to MarketBeat as of 06/01/2026, which corresponds to a gain of more than 100 percent since the beginning of the year. On the Nigerian Exchange, Seplat Energy’s valuation snapshot from Simply Wall St shows a share price close to ?11,600 and a trailing price-to-earnings ratio around 26.6 times, compared with an estimated global oil and gas industry average multiple of about 13.9 times, as of a late May 2026 update. These figures place the company at a premium to broader sector benchmarks while still reflecting its earnings power and production profile in the Nigerian market.

Dividend data compiled by StockAnalysis suggest that Seplat Energy has offered an annualized payout above 300 naira per share with a dividend yield of roughly 5 to 6 percent as of a 2025 update, with quarterly distributions and the last referenced ex-dividend date on 08/14/2025. Although 2026 dividend declarations have not yet been fully detailed in these datasets, the historical pattern of regular payouts adds a further element for income-focused investors tracking Nigeria-focused oil and gas names. The combination of price appreciation on the Nigerian Exchange and in London, together with an established dividend record, shapes the context for trading in early June 2026.

As of: 03/06/2026

By the editorial team - specialized in equity coverage.

Seplat Energy: core business model

Seplat Energy focuses on developing and producing oil and gas resources from onshore and shallow water fields in Nigeria, with revenues primarily generated from sales of crude oil, condensates, and natural gas to domestic and international customers.

Seplat Energy in peer comparison

Measured against other African-focused upstream producers listed in London, Seplat Energy has delivered particularly strong price gains in 2026, with its London-listed shares roughly doubling from GBX 284 at the start of the year to GBX 573 by 06/01/2026, according to MarketBeat. Over a 12-month horizon, Investing.com data on Seplat Petroleum Development’s historical prices indicate a share price range between about GBX 207.50 and GBX 619.00, reflecting elevated volatility but also substantial upside versus certain peers in the same period. Many global oil and gas producers have benefited from supportive crude pricing and resilient demand, yet Seplat Energy’s performance stands out in the Nigeria-focused universe because of its domestic asset base and the leverage that provides to local production trends.

In valuation terms, Simply Wall St’s snapshot shows Seplat Energy trading at a trailing price-to-earnings multiple of about 26.6 times as of late May 2026, compared with an estimated 13.9 times average for the global oil and gas industry. This gap suggests that the market is pricing Seplat Energy at a premium to some international peers, possibly reflecting the company’s growth prospects and the strategic nature of its assets in Nigeria. At the same time, analyst forecasts collated by Simply Wall St point to a fair value that is only modestly above the prevailing share price, with the stock described as around 7.6 percent undervalued on their intrinsic valuation model as of the same date. For investors comparing upstream names, this places Seplat Energy between higher-yielding, lower-growth producers on the one hand and more aggressively valued exploration-led businesses on the other.

Conclusion

Seplat Energy’s dual listing on the Nigerian Exchange and the London Stock Exchange, combined with a strong price performance year-to-date and a track record of dividend payments, keeps the stock in focus for investors tracking Nigeria’s upstream oil and gas sector. The peer comparison indicates that the shares trade at a premium earnings multiple to the broader oil and gas industry but with valuation metrics that some third-party models still see as slightly below their intrinsic value estimate. How the company’s production profile, capital allocation, and commodity price backdrop evolve through the rest of 2026 will likely be key in determining whether the recent gains can be sustained or if valuations converge closer to industry averages.

Disclaimer: This article does not constitute investment advice. The comprehensive scope of this informative article was made possible through the use of a.i.. Stocks are volatile financial instruments.