Serica Energy (LON:SQZ) Receives Buy Rating from Shore Capital

Serica Energy (LON:SQZ)‘s stock had its “buy” rating reissued by investment analysts at Shore Capital in a report released on Friday,Digital Look reports. They presently have a GBX 240 target price on the stock. Shore Capital’s price objective indicates a potential upside of 28.62% from the company’s current price.

SQZ has been the topic of a number of other research reports. Canaccord Genuity Group upped their price target on shares of Serica Energy from GBX 215 to GBX 240 and gave the company a “buy” rating in a research note on Friday, October 3rd. Peel Hunt reiterated a “buy” rating and issued a GBX 207 target price on shares of Serica Energy in a report on Tuesday, November 4th. Panmure Gordon cut their price target on shares of Serica Energy from GBX 270 to GBX 238 and set a “buy” rating on the stock in a research note on Tuesday, December 2nd. Finally, Jefferies Financial Group increased their price target on shares of Serica Energy from GBX 190 to GBX 230 and gave the stock a “buy” rating in a report on Monday, October 20th. Seven research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Serica Energy has an average rating of “Buy” and an average target price of GBX 224.29.

Serica Energy Stock Performance

LON SQZ traded up GBX 6.60 on Friday, reaching GBX 186.60. 1,360,666 shares of the stock were exchanged, compared to its average volume of 2,324,455. The firm has a market capitalization of £728.72 million, a PE ratio of -23.33, a PEG ratio of 2.15 and a beta of 0.44. The company has a current ratio of 1.69, a quick ratio of 1.22 and a debt-to-equity ratio of 26.31. The company’s 50-day simple moving average is GBX 186.23 and its two-hundred day simple moving average is GBX 178.50. Serica Energy has a one year low of GBX 112 and a one year high of GBX 223.

Insider Activity

In related news, insider Chris Cox purchased 64,007 shares of the company’s stock in a transaction that occurred on Tuesday, December 16th. The shares were purchased at an average price of GBX 170 per share, with a total value of £108,811.90. 63.80% of the stock is owned by company insiders.

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.