Serica Energy (LON:SQZ) Sets New 12-Month High Following Analyst Upgrade

Shares of Serica Energy plc (LON:SQZ) reached a new 52-week high during mid-day trading on Monday after Canaccord Genuity Group raised their price target on the stock from GBX 215 to GBX 240. Canaccord Genuity Group currently has a buy rating on the stock. Serica Energy traded as high as GBX 212.50 ($2.85) and last traded at GBX 211.50 ($2.84), with a volume of 966582 shares. The stock had previously closed at GBX 206 ($2.77).

Several other equities research analysts also recently issued reports on the stock. Shore Capital reiterated a “buy” rating on shares of Serica Energy in a research note on Wednesday, September 10th. JPMorgan Chase & Co. reiterated a “buy” rating and issued a GBX 215 target price on shares of Serica Energy in a research note on Wednesday, August 13th. Peel Hunt reiterated a “buy” rating and issued a GBX 207 target price on shares of Serica Energy in a research note on Tuesday, September 30th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a GBX 190 target price on shares of Serica Energy in a research note on Tuesday, August 5th. Six investment analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of GBX 212.

Serica Energy Price Performance

The company’s 50-day simple moving average is GBX 173.34 and its 200-day simple moving average is GBX 156.26. The company has a debt-to-equity ratio of 26.31, a current ratio of 1.69 and a quick ratio of 1.22. The stock has a market capitalization of £833.77 million, a price-to-earnings ratio of -2,668.75, a P/E/G ratio of 2.15 and a beta of 0.44.

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.