Seplat Petroleum - Initiation Note
We have today initiated coverage on Seplat Petroleum and Development Company Plc., a blue chip upstream and midstream oil and gas producer with a £0.5bn market cap and a 7.6% dividend yield - it didn't cut its 2020 dividend, differentiating it from most in the sector. With consensus risked NAV of 158p per share we believe there is significant upside potential here on current assets alone. Its successful history of asset and corporate acquisitions combines with a fertile environment for these to continue, suggesting material growth potential ahead. We believe the market is under-pricing two imminent and highly certain catalysts, so we expect the shares to re-rate significantly once (i) a new oil pipeline starts flowing in early 2H21 and (ii) its new gas 300MMscfd processing plant comes online in 1H22. Neither appears to be priced in.
Capital Access Group advises companies on effective engagement with investors. Our experienced team offers market-leading access with hard-to-reach investors, including smaller institutions, pension funds and private client fund managers. These under-serviced investors are located not only in London but across the regions of the UK and Europe. We have an unrivalled knowledge of this extensive audience, to whom our published research is distributed, as well as to larger institutions. We offer this service as part of an integrated investor communications strategy to promote a company’s investment story.
Our clients, ranging from AIM to FTSE 100 companies, benefit from our professional, long-term relationships with investors. Not only do we identify and target investors, we contact them directly and relay their views back to clients with analysis, interpretation and advice. This ensures that our clients are in control of their investor engagement. The objective is to improve the reach and engagement with investors, which in turn strengthens the share price.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.