Serica Energy (LON:SQZ) Trading Up 6.6% Following Analyst Upgrade

Shares of Serica Energy plc (LON:SQZ) shot up 6.6% during mid-day trading on Tuesday after Stifel Nicolaus raised their price target on the stock from GBX 266 to GBX 281. Stifel Nicolaus 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 traded 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.

A number of other research firms have also recently commented on SQZ. Canaccord Genuity Group lifted their price target on shares of Serica Energy from GBX 230 to GBX 310 and gave the stock a “buy” rating in a report on Monday. Berenberg Bank reissued a “buy” rating and issued a GBX 300 target price on shares of Serica Energy in a research report on Thursday, March 26th. Panmure Gordon lowered their target price on Serica Energy from GBX 270 to GBX 238 and set a “buy” rating on the stock in a research note on Tuesday, December 2nd. Finally, Shore Capital Group reaffirmed a “buy” rating on shares of Serica Energy in a research report on Thursday, March 26th. Eight analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of GBX 252.

Serica Energy Stock Performance

The company’s fifty day moving average is GBX 240.06 and its 200 day moving average is GBX 205.65. The company has a market capitalization of £1.04 billion, a P/E ratio of -33.19, a P/E/G ratio of 2.15 and a beta of 0.78. The company has a current ratio of 1.14, a quick ratio of 1.22 and a debt-to-equity ratio of 33.93.

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.