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Seplat Petroleum Development

LSE:SEPL
Snowflake Description

Flawless balance sheet and undervalued.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
SEPL
LSE
£746M
Market Cap
  1. Home
  2. GB
  3. Energy
Company description

Seplat Petroleum Development Company Plc, an oil and gas company, explores for, develops, and produces oil and gas in Nigeria. The last earnings update was 18 days ago. More info.


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SEPL Share Price and Events
7 Day Returns
2.5%
LSE:SEPL
3.5%
GB Oil and Gas
1.3%
GB Market
1 Year Returns
-9.3%
LSE:SEPL
3%
GB Oil and Gas
-5%
GB Market
SEPL Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Seplat Petroleum Development (SEPL) 2.5% 6.7% 8% -9.3% 33.6% -42.9%
GB Oil and Gas 3.5% -2.5% 4.1% 3% 47% -10.6%
GB Market 1.3% -1.6% 1.9% -5% 15.8% 2.5%
1 Year Return vs Industry and Market
  • SEPL underperformed the Oil and Gas industry which returned 3% over the past year.
  • SEPL underperformed the Market in United Kingdom of Great Britain and Northern Ireland which returned -5% over the past year.
Price Volatility
SEPL
Industry
5yr Volatility vs Market
Related Companies

Value

 Is Seplat Petroleum Development undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Seplat Petroleum Development to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Seplat Petroleum Development.

LSE:SEPL Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 5 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7.8%
Perpetual Growth Rate 10-Year GB Government Bond Rate 1.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for LSE:SEPL
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year GB Govt Bond Rate 1.2%
Equity Risk Premium S&P Global 6%
Oil and Gas Unlevered Beta Simply Wall St/ S&P Global 0.92
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.917 (1 + (1- 30%) (36.39%))
1.101
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.1
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.23% + (1.101 * 5.96%)
7.79%

Discounted Cash Flow Calculation for LSE:SEPL using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Seplat Petroleum Development is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

LSE:SEPL DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 7.79%)
2019 204.30 Analyst x2 189.54
2020 244.00 Analyst x3 210.02
2021 315.20 Analyst x2 251.70
2022 292.04 Est @ -7.35% 216.35
2023 278.09 Est @ -4.78% 191.13
2024 269.82 Est @ -2.97% 172.05
2025 265.19 Est @ -1.71% 156.88
2026 262.99 Est @ -0.83% 144.34
2027 262.42 Est @ -0.21% 133.62
2028 262.99 Est @ 0.22% 124.24
Present value of next 10 years cash flows $1,789.87
LSE:SEPL DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $262.99 × (1 + 1.23%) ÷ (7.79% – 1.23%)
$4,057.81
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $4,057.81 ÷ (1 + 7.79%)10
$1,916.90
LSE:SEPL Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $1,789.87 + $1,916.90
$3,706.76
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $3,706.76 / 568.50
$6.52
LSE:SEPL Discount to Share Price
Calculation Result
Exchange Rate USD/GBP
(Reporting currency to currency of LSE:SEPL)
0.785
Value per Share
(GBP)
= Value per Share in USD x Exchange Rate (USD/GBP)
= $6.52 x 0.785
£5.12
Value per share (GBP) From above. £5.12
Current discount Discount to share price of £1.31
= -1 x (£1.31 - £5.12) / £5.12
74.4%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Seplat Petroleum Development is available for.
Intrinsic value
>50%
Share price is £1.31 vs Future cash flow value of £5.12
Current Discount Checks
For Seplat Petroleum Development to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Seplat Petroleum Development's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Seplat Petroleum Development's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Seplat Petroleum Development's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Seplat Petroleum Development's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
LSE:SEPL PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $0.28
LSE:SEPL Share Price ** LSE (2019-05-17) in GBP £1.31
LSE:SEPL Share Price converted to USD reporting currency Exchange rate (GBP/ USD) 1.273 $1.67
United Kingdom of Great Britain and Northern Ireland Oil and Gas Industry PE Ratio Median Figure of 32 Publicly-Listed Oil and Gas Companies 9.44x
United Kingdom of Great Britain and Northern Ireland Market PE Ratio Median Figure of 790 Publicly-Listed Companies 16.24x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Seplat Petroleum Development.

LSE:SEPL PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= LSE:SEPL Share Price ÷ EPS (both in USD)

= 1.67 ÷ 0.28

5.92x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Seplat Petroleum Development is good value based on earnings compared to the GB Oil and Gas industry average.
  • Seplat Petroleum Development is good value based on earnings compared to the United Kingdom of Great Britain and Northern Ireland market.
Price based on expected Growth
Does Seplat Petroleum Development's expected growth come at a high price?
Raw Data
LSE:SEPL PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 5.92x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts
-0.1%per year
United Kingdom of Great Britain and Northern Ireland Oil and Gas Industry PEG Ratio Median Figure of 20 Publicly-Listed Oil and Gas Companies 0.7x
United Kingdom of Great Britain and Northern Ireland Market PEG Ratio Median Figure of 573 Publicly-Listed Companies 1.5x

*Line of best fit is calculated by linear regression .

LSE:SEPL PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 5.92x ÷ -0.1%

-43.55x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Seplat Petroleum Development earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Seplat Petroleum Development's assets?
Raw Data
LSE:SEPL PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $2.88
LSE:SEPL Share Price * LSE (2019-05-17) in GBP £1.31
LSE:SEPL Share Price converted to USD reporting currency Exchange rate (GBP/ USD) 1.273 $1.67
United Kingdom of Great Britain and Northern Ireland Oil and Gas Industry PB Ratio Median Figure of 102 Publicly-Listed Oil and Gas Companies 0.85x
United Kingdom of Great Britain and Northern Ireland Market PB Ratio Median Figure of 1,368 Publicly-Listed Companies 1.51x
LSE:SEPL PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= LSE:SEPL Share Price ÷ Book Value per Share (both in USD)

= 1.67 ÷ 2.88

0.58x

* Primary Listing of Seplat Petroleum Development.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Seplat Petroleum Development is good value based on assets compared to the GB Oil and Gas industry average.
X
Value checks
We assess Seplat Petroleum Development's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Oil and Gas industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Oil and Gas industry average (and greater than 0)? (1 check)
  5. Seplat Petroleum Development has a total score of 5/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Seplat Petroleum Development expected to perform in the next 1 to 3 years based on estimates from 5 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
-0.1%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Seplat Petroleum Development expected to grow at an attractive rate?
  • Seplat Petroleum Development's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 1.2%.
Growth vs Market Checks
  • Seplat Petroleum Development's earnings are expected to decrease over the next 1-3 years, this is below the United Kingdom of Great Britain and Northern Ireland market average.
  • Seplat Petroleum Development's revenues are expected to decrease over the next 1-3 years, this is below the United Kingdom of Great Britain and Northern Ireland market average.
Annual Growth Rates Comparison
Raw Data
LSE:SEPL Future Growth Rates Data Sources
Data Point Source Value (per year)
LSE:SEPL Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts -0.1%
LSE:SEPL Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 5 Analysts -11.8%
United Kingdom of Great Britain and Northern Ireland Oil and Gas Industry Earnings Growth Rate Market Cap Weighted Average 11.9%
United Kingdom of Great Britain and Northern Ireland Oil and Gas Industry Revenue Growth Rate Market Cap Weighted Average 3.3%
United Kingdom of Great Britain and Northern Ireland Market Earnings Growth Rate Market Cap Weighted Average 10.8%
United Kingdom of Great Britain and Northern Ireland Market Revenue Growth Rate Market Cap Weighted Average 4.9%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
LSE:SEPL Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
LSE:SEPL Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 7 174 1
2022-12-31 706 136 2
2021-12-31 817 425 233 4
2020-12-31 917 432 253 5
2019-12-31 723 420 151 4
LSE:SEPL Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 725 535 159
2018-12-31 746 502 147
2018-09-30 742 666 362
2018-06-30 663 586 341
2018-03-31 585 441 305
2017-12-31 452 447 265
2017-09-30 320 230 -74
2017-06-30 233 238 -130
2017-03-31 218 159 -165
2016-12-31 254 172 -165
2016-09-30 363 136 -91
2016-06-30 476 115 -28

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Seplat Petroleum Development's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Seplat Petroleum Development's revenue is expected to decrease over the next 1-3 years, this is not considered high growth.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
LSE:SEPL Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below

All data from Seplat Petroleum Development Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

LSE:SEPL Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 0.27 0.27 0.27 1.00
2020-12-31 0.28 0.33 0.23 2.00
2019-12-31 0.22 0.26 0.17 2.00
LSE:SEPL Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 0.28
2018-12-31 0.26
2018-09-30 0.63
2018-06-30 0.60
2018-03-31 0.54
2017-12-31 0.47
2017-09-30 -0.13
2017-06-30 -0.23
2017-03-31 -0.29
2016-12-31 -0.29
2016-09-30 -0.16
2016-06-30 -0.05

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Seplat Petroleum Development is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Seplat Petroleum Development's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United Kingdom of Great Britain and Northern Ireland market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United Kingdom of Great Britain and Northern Ireland market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Seplat Petroleum Development has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Seplat Petroleum Development performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Seplat Petroleum Development's growth in the last year to its industry (Oil and Gas).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Seplat Petroleum Development's year on year earnings growth rate was negative over the past 5 years, however the most recent earnings are above average.
  • Seplat Petroleum Development's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Seplat Petroleum Development's 1-year earnings growth is negative, it can't be compared to the GB Oil and Gas industry average.
Earnings and Revenue History
Seplat Petroleum Development's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Seplat Petroleum Development Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

LSE:SEPL Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 725.07 158.70 80.83
2018-12-31 746.14 146.58 76.46
2018-09-30 741.58 361.98 77.45
2018-06-30 663.04 341.35 78.99
2018-03-31 585.47 304.92 88.00
2017-12-31 452.18 265.23 87.56
2017-09-30 320.09 -73.61 89.82
2017-06-30 233.01 -129.66 93.70
2017-03-31 218.10 -164.90 102.10
2016-12-31 254.22 -164.59 106.60
2016-09-30 363.30 -90.63 105.21
2016-06-30 475.91 -28.41 114.44
2016-03-31 522.77 25.63 108.72
2015-12-31 570.48 67.76 115.76
2015-09-30 602.42 86.44 91.73
2015-06-30 634.42 129.95 87.72
2015-03-31 759.93 228.89 110.73
2014-12-31 775.02 252.25 121.28
2014-09-30 829.76 335.97 136.21
2014-06-30 849.05 402.97 122.99
2014-03-31 816.76 445.30 92.81
2013-12-31 880.23 550.27 68.90
2012-12-31 624.55 109.10 45.88

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Seplat Petroleum Development has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Seplat Petroleum Development used its assets more efficiently than the GB Oil and Gas industry average last year based on Return on Assets.
  • Seplat Petroleum Development has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Seplat Petroleum Development's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Oil and Gas industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Seplat Petroleum Development has a total score of 2/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Seplat Petroleum Development's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Seplat Petroleum Development's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Seplat Petroleum Development is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Seplat Petroleum Development's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Seplat Petroleum Development's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 2.6x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Seplat Petroleum Development Company Filings, last reported 1 month ago.

LSE:SEPL Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 1,636.18 345.75 649.81
2018-12-31 1,600.89 445.70 584.72
2018-09-30 1,567.15 536.87 634.00
2018-06-30 1,521.66 544.73 509.91
2018-03-31 1,519.80 536.44 361.10
2017-12-31 1,503.10 570.08 437.21
2017-09-30 1,232.73 612.33 219.16
2017-06-30 1,209.12 624.59 201.51
2017-03-31 1,216.19 631.84 155.71
2016-12-31 1,234.02 664.10 159.62
2016-09-30 1,297.52 694.85 136.55
2016-06-30 1,331.03 778.11 179.80
2016-03-31 1,391.34 838.86 298.39
2015-12-31 1,413.08 899.62 326.03
2015-09-30 1,429.53 960.95 444.57
2015-06-30 1,402.33 996.72 110.51
2015-03-31 1,435.52 1,033.34 191.81
2014-12-31 1,409.14 588.16 239.69
2014-09-30 1,418.06 589.08 434.79
2014-06-30 1,346.09 628.45 580.50
2014-03-31
2013-12-31 732.20 310.60 147.16
2012-12-31 181.87 247.61 154.33
  • Seplat Petroleum Development's level of debt (21.1%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (45.2% vs 21.1% today).
  • Debt is well covered by operating cash flow (154.8%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 9x coverage).
X
Financial health checks
We assess Seplat Petroleum Development's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Seplat Petroleum Development has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Seplat Petroleum Development's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Seplat Petroleum Development dividends. Estimated to be 5.98% next year.
If you bought £2,000 of Seplat Petroleum Development shares you are expected to receive £0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Seplat Petroleum Development's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Seplat Petroleum Development's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
LSE:SEPL Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
United Kingdom of Great Britain and Northern Ireland Oil and Gas Industry Average Dividend Yield Market Cap Weighted Average of 13 Stocks 5.1%
United Kingdom of Great Britain and Northern Ireland Market Average Dividend Yield Market Cap Weighted Average of 705 Stocks 4.3%
United Kingdom of Great Britain and Northern Ireland Minimum Threshold Dividend Yield 10th Percentile 1%
United Kingdom of Great Britain and Northern Ireland Bottom 25% Dividend Yield 25th Percentile 2%
United Kingdom of Great Britain and Northern Ireland Top 25% Dividend Yield 75th Percentile 5.2%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

LSE:SEPL Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2023-12-31 0.10 1.00
2022-12-31 0.10 1.00
2021-12-31 0.10 2.00
2020-12-31 0.10 3.00
2019-12-31 0.10 3.00
LSE:SEPL Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-04-30 0.000 0.000
2019-03-06 0.100 6.086
2018-10-30 0.100 6.353
2018-07-30 0.100 5.581
2018-04-30 0.100 5.281
2018-02-28 0.000 0.000
2017-10-23 0.000 0.000
2017-07-27 0.000 0.000
2017-04-28 0.000 0.000
2017-03-30 0.000 0.000
2016-10-27 0.000 0.000
2016-05-20 0.080 7.668
2015-06-10 0.180 14.283
2014-10-30 0.120 5.850
2014-07-25 0.120 3.305

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Seplat Petroleum Development has not reported any payouts.
  • Unable to verify if Seplat Petroleum Development's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Seplat Petroleum Development's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Seplat Petroleum Development has not reported any payouts.
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (5.1x coverage).
X
Income/ dividend checks
We assess Seplat Petroleum Development's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Seplat Petroleum Development afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Seplat Petroleum Development has a total score of 1/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Seplat Petroleum Development's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Austin Avuru
COMPENSATION $2,992,000
AGE 59
TENURE AS CEO 9 years
CEO Bio

Mr. Ojunekwu Augustine Avuru also known as Austin, has been the Chief Executive Officer of Seplat Petroleum Development Company Plc since May 1, 2010 and serves as its Managing Director. Mr. Avuru is an outstanding Professional with over 30 years of wide-ranging experience in the Oil and Gas Industry. He began his distinguished career with the Nigerian National Petroleum Corporation (NNPC) where he spent twelve years holding various levels of responsibilities as Wellsite Geologist, Production Seismologist and Reservoir Engineer. From NNPC, he joined Allied Energy Resources, a pioneer indigenous deepwater Operator, where he worked for the next ten years as Exploration Manager and Technical Manager. In 2002, Mr. Avuru assembled an impressive array of industry professionals to found Platform Petroleum Limited and becoming its Pioneer Managing Director until 2010 when he left to become the Pioneer Managing Director of SEPLAT. He is a versatile professional and has served the industry in various capacities. He was Technical Coordinator for the 1991 review of the industry MOU. Mr. Avuru serves as an Executive Director of Seplat Petroleum Development Company Plc. He was an invited speaker on Oil and Gas Policy at the Shell Workshop for selected committees of the National Assembly in 1999; invited speaker at the Nigerian Investment Forum at the OTC, Houston Texas in May 2002; invited speaker at Nigerian Oil and Gas Summit Houston Texas in December 2001. He is a notable champion of Local Content Development in the Upstream sector of the Nigerian Petroleum Industry. He led the extensive campaign for indigenous E & P participation from 1996 to 2000, and as a member of the National Committee on Local Content Development, chaired the technical subcommittee that drafted the policy blueprint that has transformed into the Nigerian Content Act of 2010. Mr. Avuru’s brilliance has earned him several academic recognitions and awards. He is a Fellow and was President of the Nigerian Association of Petroleum Explorationists (NAPE). He is a co-Author of Nigerian Petroleum Business, a Handbook and author of Politics, Economics & the Nigerian Petroleum Industry. He holds a B.Sc Geology degree of University of Nigeria, Nsukka; a Post Graduate Diploma in Petroleum Engineering from University of Ibadan.

CEO Compensation
  • Austin's compensation has been consistent with company performance over the past year.
  • Insufficient data for Austin to establish whether their remuneration is reasonable compared to companies of similar size in United Kingdom of Great Britain and Northern Ireland.
Management Team Tenure

Average tenure and age of the Seplat Petroleum Development management team in years:

6.3
Average Tenure
56.5
Average Age
  • The average tenure for the Seplat Petroleum Development management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Austin Avuru

TITLE
Chief Executive Officer
COMPENSATION
$3M
AGE
59
TENURE
9 yrs

Roger Brown

TITLE
CFO & Executive Director
COMPENSATION
$2M
AGE
48
TENURE
5.8 yrs

Effiong Okon

TITLE
Operations Director & Director
TENURE
1.3 yrs

Andrew Dymond

TITLE
Head of Investor Relations

Isaiah Odeleye

TITLE
General Manager of Legal
AGE
67

Mirian Kachikwu

TITLE
General Counsel & Company Secretary

Chioma Nwachuku

TITLE
General Manager of External Affairs & Communications
AGE
54

Olubusola Ogunbanwo

TITLE
Head of Asset Development
AGE
57
TENURE
6.8 yrs

Jonah Amedu

TITLE
Head of Petroleum Engineering
AGE
56

Ganiyu Bolaji

TITLE
Head of Production & Field Operations
Board of Directors Tenure

Average tenure and age of the Seplat Petroleum Development board of directors in years:

6.2
Average Tenure
62
Average Age
  • The tenure for the Seplat Petroleum Development board of directors is about average.
Board of Directors

Ambrosie Orjiako

TITLE
Chairman
COMPENSATION
$1M
AGE
57
TENURE
9.2 yrs

Austin Avuru

TITLE
Chief Executive Officer
COMPENSATION
$3M
AGE
59
TENURE
9 yrs

Roger Brown

TITLE
CFO & Executive Director
COMPENSATION
$2M
AGE
48
TENURE
5.8 yrs

Effiong Okon

TITLE
Operations Director & Director
TENURE
1.3 yrs

Mike Alexander

TITLE
Senior Independent Non-Executive Director
COMPENSATION
$438K
AGE
70
TENURE
5.9 yrs

George Malloch-Brown

TITLE
Independent Non-Executive Director
COMPENSATION
$207K
AGE
65
TENURE
5.3 yrs

Basil Omiyi

TITLE
Independent Non-Executive Director
COMPENSATION
$234K
TENURE
6.2 yrs

Michel Hochard

TITLE
Non-Executive Director
COMPENSATION
$140K
AGE
68
TENURE
9.4 yrs

Mac Ofurhie

TITLE
Non-Executive Director
COMPENSATION
$194K
AGE
72
TENURE
9.4 yrs

Charles Okeahalam

TITLE
Independent Non-Executive Director
COMPENSATION
$221K
AGE
55
TENURE
6.2 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (£) Value (£)
27. Nov 18 Sell Shebah Petroleum Development Company Ltd. Company 30. Oct 18 01. Nov 18 -1,200,000 £1.29 £-1,529,176
31. Aug 18 Sell Michael Alexander Individual 29. Aug 18 29. Aug 18 -95,238 £1.36 £-129,524
31. Aug 18 Buy Michael Alexander Individual 29. Aug 18 29. Aug 18 95,238 £1.36 £129,524
X
Management checks
We assess Seplat Petroleum Development's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Seplat Petroleum Development has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Does Seplat Petroleum Development Company Plc's (LON:SEPL) P/E Ratio Signal A Buying Opportunity?

See our latest analysis for Seplat Petroleum Development How Do I Calculate A Price To Earnings Ratio? … The formula for price to earnings is: Price to Earnings Ratio = Price per Share (in the reporting currency) ÷ Earnings per Share (EPS) Or for Seplat Petroleum Development: P/E of 5.83 = $1.64 (Note: this is the share price in the reporting currency, namely, USD ) ÷ $0.28 (Based on the trailing twelve months to March 2019.) Is A High Price-to-Earnings Ratio Good? … Seplat Petroleum Development saw earnings per share decrease by 47% last year.

Simply Wall St -

Seplat Petroleum Development Company Plc (LON:SEPL) Earns Among The Best Returns In Its Industry

Specifically, we're going to calculate its Return On Capital Employed (ROCE), in the hopes of getting some insight into the business. … Return On Capital Employed (ROCE): What is it? … ROCE measures the amount of pre-tax profits a company can generate from the capital employed in its business.

Simply Wall St -

Does The Hype Around Seplat Petroleum Development Company Plc's (LON:SEPL) Growth Justify Its April Share Price?

Growth expectations for Seplat Petroleum Development Company Plc (LON:SEPL) are high, but many investors are starting to ask whether its last close at £1.21 can still be rationalized by the future potential. … View our latest analysis for Seplat Petroleum Development? … Analysts are predicting good growth prospects for Seplat Petroleum Development over the next couple of years

Simply Wall St -

Should You Buy Seplat Petroleum Development Company Plc (LON:SEPL) For Its Dividend?

Historically, Seplat Petroleum Development Company Plc (LON:SEPL) has paid dividends to shareholders, and these days it yields 5.9%. … Let's take a look at Seplat Petroleum Development in more detail. … See our latest analysis for Seplat Petroleum Development

Simply Wall St -

Seplat Petroleum Development Shareholders Booked A 39% Gain In The Last Three Years

For example, the Seplat Petroleum Development Company Plc (LON:SEPL) share price is up 39% in the last three years, clearly besting than the market return of around 17% (not including dividends). … One way to examine how market sentiment has changed over time is to look at the interaction between a company's share price and its earnings per share (EPS). … It might be well worthwhile taking a look at our free report on Seplat Petroleum Development's earnings, revenue and cash flow.

Simply Wall St -

Before You Buy Seplat Petroleum Development Company Plc (LON:SEPL), Consider Its Volatility

Modern finance theory considers volatility to be a measure of risk, and there are two main types of price volatility. … Beta is a widely used metric to measure a stock's exposure to market risk (volatility). … Before we go on, it's worth noting that Warren Buffett pointed out in his 2014 letter to shareholders that 'volatility is far from synonymous with risk.' Having said that, beta can still be rather useful.

Simply Wall St -

Is Seplat Petroleum Development Company Plc’s (LON:SEPL) 14% ROCE Any Good?

Specifically, we'll consider its Return On Capital Employed (ROCE), since that will give us an insight into how efficiently the business can generate profits from the capital it requires. … Understanding Return On Capital Employed (ROCE). … ROCE is a measure of a company's yearly pre-tax profit (its return), relative to the capital employed in the business.

Simply Wall St -

Should Seplat Petroleum Development Company Plc (LON:SEPL) Be Your Next Stock Pick?

As an investor, I look for investments which does not compromise one fundamental factor for another. … By this I mean, I look at stocks holistically, from their financial health to their future outlook. … In the case of Seplat Petroleum Development Company Plc (LON:SEPL), it

Simply Wall St -

Seplat Petroleum Development Company Plc (LON:SEPL): Time For A Financial Health Check

Investors are always looking for growth in small-cap stocks like Seplat Petroleum Development Company Plc (LON:SEPL), with a market cap of UK£709m. … However, an important fact which most ignore is: how financially healthy is the business?

Simply Wall St -

Is Seplat Petroleum Development Company Plc (LON:SEPL) A Smart Choice For Dividend Investors?

Historically, Seplat Petroleum Development Company Plc (LON:SEPL) has been paying a dividend to shareholders. … Let's take a look at Seplat Petroleum Development in more detail. … View our latest analysis for Seplat Petroleum Development

Simply Wall St -

Company Info

Description

Seplat Petroleum Development Company Plc, an oil and gas company, explores for, develops, and produces oil and gas in Nigeria. It operates a portfolio of assets in the Niger Delta region, including a 45% interest in the OML 4 that covers an area of 267 square kilometers; a 45% interest in OML 38 that covers an area of 2,094 square kilometers; and a 45% interest in OML 41 that covers an area of 291 square kilometers. The company also holds a 40% non-operated working interest in OPL 283 marginal field area and is located in the northern onshore depo-belt of the Niger Delta; a 40% in OML 53 that covers an area of 1,585 square kilometers and is located onshore in the north eastern Niger Delta; and interest in OML 55 that covers an area of 840 square kilometers and is located in the south eastern Niger Delta. Seplat Petroleum Development Company Plc was founded in 2009 and is based in Lagos, Nigeria.

Details
Name: Seplat Petroleum Development Company Plc
SEPL
Exchange: LSE
Founded: 2009
£746,152,345
568,497,025
Website: http://seplatpetroleum.com
Address: Seplat Petroleum Development Company Plc
25A Lugard Avenue,
Ikoyi,
Lagos,
Nigeria
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
LSE SEPL Ordinary Shares London Stock Exchange GB GBP 09. Apr 2014
DB 134 Ordinary Shares Deutsche Boerse AG DE EUR 09. Apr 2014
NGSE SEPLAT Ordinary Shares Nigerian Stock Exchange NG NGN 09. Apr 2014
BATS-CHIXE SEPLL Ordinary Shares BATS 'Chi-X Europe' GB GBP 09. Apr 2014
Number of employees
Current staff
Staff numbers
408
Seplat Petroleum Development employees.
Industry
Oil and Gas Exploration and Production
Energy
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/18 22:15
End of day share price update: 2019/05/17 00:00
Last estimates confirmation: 2019/05/15
Last earnings filing: 2019/04/30
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.