Serica Energy's (SQZ) Buy Rating Reaffirmed at Jefferies Financial Group

Key Points

• Jefferies reaffirmed a Buy rating on Serica Energy and maintained a GBX 320 price target, implying 19.62% upside from the previous close.
• Analyst sentiment remains positive: seven analysts rate the stock Buy, with a consensus target price of GBX 283.71; Berenberg and Canaccord also recently reiterated Buy ratings.
• Serica Energy shares opened at GBX 267.52 and were up 1.4%, while the company reported quarterly EPS of GBX 2 and maintains oil and gas interests across the U.K. North Sea.

Serica Energy (LON:SQZ - Get Free Report)'s stock had its "buy" rating reiterated by equities researchers at Jefferies Financial Group in a note issued to investors on Wednesday, Digital Look reports. They presently have a GBX 320 price objective on the stock. Jefferies Financial Group's price target suggests a potential upside of 19.62% from the company's previous close.

Other analysts have also issued reports about the company. Berenberg Bank reiterated a "buy" rating and set a GBX 365 price target on shares of Serica Energy in a report on Thursday, August 6th. Canaccord Genuity Group restated a "buy" rating and issued a GBX 340 price objective on shares of Serica Energy in a research note on Monday, July 27th. Seven investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of GBX 283.71.

Serica Energy Trading Up 1.4%

LON:SQZ opened at GBX 267.52 on Wednesday. Serica Energy has a 52 week low of GBX 146 and a 52 week high of GBX 302.40. The firm has a 50-day moving average price of GBX 241.24 and a two-hundred day moving average price of GBX 254.67. The company has a debt-to-equity ratio of 47.47, a quick ratio of 1.22 and a current ratio of 1.42. The firm has a market cap of £1.05 billion, a price-to-earnings ratio of -19.98, a price-to-earnings-growth ratio of 2.15 and a beta of 0.05.

Serica Energy (LON:SQZ - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported GBX 2 earnings per share for the quarter. Serica Energy had a negative return on equity of 0.62% and a negative net margin of 0.27%. On average, equities analysts expect that Serica Energy will post 30.373444 earnings per share for the current fiscal year.

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. 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.

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