Oil Plunge: Seplat UK Shares Plummets To Year To Date Low, Drops 5% In Nigeria

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Seplat is currently not having the best of times as the world reacts to a plunge in oil prices. The share price of the Nigerian upstream company lost 5% today to close at N607.5 following a trend that has affected shares of oil companies around the world.

To matters worse, Seplat share price in the UK hit it’s year to date low today closing at £200 amidst sell offs hitting stocks in the European, US and Asian markets. Seplat is down 26% from its year high of £270 and also down 16% in Nigeria from its year high of N720.5.

Bloomberg data suggest Seplat as listed in Nigeria is trading at an ultra cheap 3.3x P.E ratio