Serica Energy (LON:SQZ) Stock Price Up 6.6% After Analyst Upgrade

Serica Energy plc (LON:SQZ) traded up 6.6% on Tuesday after Canaccord Genuity Group raised their price target on the stock from GBX 230 to GBX 310. Canaccord Genuity Group currently has a buy rating on the stock. Serica Energy traded as high as GBX 296.50 and last traded at GBX 292. 6,976,570 shares changed hands during trading, an increase of 76% from the average session volume of 3,963,004 shares. The stock had previously closed at GBX 274.

Other analysts have also recently issued reports about the company. Shore Capital Group restated a “buy” rating on shares of Serica Energy in a research report on Thursday, March 26th. Berenberg Bank reaffirmed a “buy” rating and issued a GBX 300 target price on shares of Serica Energy in a research report on Thursday, March 26th. Finally, Panmure Gordon decreased 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. Seven equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of GBX 247.86.

Serica Energy Price Performance

The company has a 50-day moving average of GBX 236.98 and a 200 day moving average of GBX 204.29. The company has a debt-to-equity ratio of 33.93, a quick ratio of 1.22 and a current ratio of 1.14. The firm has a market cap of £1.14 billion, a P/E ratio of -36.50, a P/E/G ratio of 2.15 and a beta of 0.78.

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.