Shore Capital Reaffirms Buy Rating for Serica Energy (LON:SQZ)

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

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

Serica Energy Stock Up 3.7%

Shares of LON SQZ opened at GBX 186.60 on Friday. The business has a 50-day moving average of GBX 185.62 and a two-hundred day moving average of GBX 178.59. The company has a market capitalization of £728.72 million, a price-to-earnings ratio of -23.33, a price-to-earnings-growth ratio of 2.15 and a beta of 0.44. Serica Energy has a 1 year low of GBX 112 and a 1 year high of GBX 223. The company has a debt-to-equity ratio of 26.31, a current ratio of 1.69 and a quick ratio of 1.22.

Insider Activity

In other Serica Energy news, insider Chris Cox bought 64,007 shares of the stock in a transaction dated Tuesday, December 16th. The shares were acquired at an average cost of GBX 170 per share, for a total transaction of £108,811.90. Company insiders own 63.80% of the company’s stock.

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.