Canaccord Genuity Group Reaffirms “Buy” Rating for Serica Energy (LON:SQZ)

Serica Energy (LON:SQZ)‘s stock had its “buy” rating restated by research analysts at Canaccord Genuity Group in a note issued to investors on Thursday, MarketBeat reports. They presently have a GBX 190 ($2.52) price target on the stock. Canaccord Genuity Group’s price target would indicate a potential upside of 16.28% from the stock’s current price.

Separately, Shore Capital reiterated a “buy” rating and issued a GBX 221 ($2.93) price objective on shares of Serica Energy in a report on Wednesday, July 23rd.

Serica Energy Trading Down 2.7%

Shares of LON:SQZ opened at GBX 163.40 ($2.17) on Thursday. The stock has a market capitalization of £805.27 million, a PE ratio of -112.61, a P/E/G ratio of 2.15 and a beta of 0.44. Serica Energy has a 1 year low of GBX 110.40 ($1.47) and a 1 year high of GBX 188 ($2.50). The firm has a fifty day moving average price of GBX 163.74 and a 200 day moving average price of GBX 144.26. The company has a current ratio of 1.69, a quick ratio of 1.22 and a debt-to-equity ratio of 26.31.

Insider Transactions at Serica Energy

In other news, insider Martin Copeland purchased 45,000 shares of the firm’s stock in a transaction on Thursday, July 3rd. The stock was bought at an average cost of GBX 161 ($2.14) per share, for a total transaction of £72,450 ($96,164.06). 37.70% of the stock is owned by company insiders.

About Serica Energy

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.