Canaccord Genuity Group Issues Positive Forecast for Serica Energy (LON:SQZ) Stock Price

Serica Energy (LON:SQZ) had its price objective increased by equities researchers at Canaccord Genuity Group from GBX 230 to GBX 310 in a note issued to investors on Monday,London Stock Exchange reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s target price indicates a potential upside of 6.16% from the stock’s previous close.

Several other research analysts have also recently issued reports on SQZ. Panmure Gordon cut their price objective on Serica Energy from GBX 270 to GBX 238 and set a “buy” rating for the company in a research report on Tuesday, December 2nd. Shore Capital Group restated a “buy” rating on shares of Serica Energy in a report on Thursday. Finally, Berenberg Bank reaffirmed a “buy” rating and set a GBX 300 target price on shares of Serica Energy in a research report on Thursday. Seven investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of GBX 247.86.

Serica Energy Price Performance

Shares of LON SQZ traded up GBX 18 during midday trading on Monday, reaching GBX 292. The company’s stock had a trading volume of 6,976,570 shares, compared to its average volume of 3,963,004. Serica Energy has a one year low of GBX 112 and a one year high of GBX 296.50. The company has a market cap of £1.14 billion, a price-to-earnings ratio of -36.50, a price-to-earnings-growth ratio of 2.15 and a beta of 0.78. The company has a 50 day moving average price of GBX 235.12 and a 200 day moving average price of GBX 203.30. The company has a current ratio of 1.14, a quick ratio of 1.22 and a debt-to-equity ratio of 33.93.

Serica Energy Company Profile

Serica Energy plc, an upstream oil and gas company, identifies, acquires, explores, exploits, and produces oil and gas reserves in the United Kingdom. The company holds 100% interest in the Keith oil field; 98% interest in the Bruce field; and 50% interest in the Rhum gas field located in the Northern North Sea, as well as 18% non-operating interest in the Erskine field located in Central North Sea. It also has 50% interest in the Columbus development; and 20% interest in the Skerryvore and Ruvaal prospects located in Central North Sea, as well as 100% interest in the North and South Eigg exploration prospects located in the Northern North Sea.