Serica Energy (LON:SQZ) Reaches New 1-Year High – Here’s Why

Serica Energy plc (LON:SQZ)’s stock price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as GBX 287.50 and last traded at GBX 287.50, with a volume of 867229 shares. The stock had previously closed at GBX 274.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Shore Capital Group restated a “buy” rating on shares of Serica Energy in a research report on Thursday. Panmure Gordon cut their price target on shares of Serica Energy from GBX 270 to GBX 238 and set a “buy” rating for the company in a report on Tuesday, December 2nd. Canaccord Genuity Group boosted their price objective on shares of Serica Energy from GBX 225 to GBX 230 and gave the stock a “buy” rating in a report on Thursday, January 22nd. Finally, Berenberg Bank restated 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, the company has a consensus rating of “Buy” and a consensus target price of GBX 236.43.

Serica Energy Stock Performance

The firm has a fifty day moving average of GBX 235.12 and a 200-day moving average of GBX 203.30. The company has a quick ratio of 1.22, a current ratio of 1.14 and a debt-to-equity ratio of 33.93. The stock has a market capitalization of £1.11 billion, a price-to-earnings ratio of -35.56, a PEG 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.