Serica Energy plc (LON:SQZ) Given Consensus Recommendation of "Buy" by Brokerages

Key Points

• Serica Energy has a consensus “Buy” rating from all seven covering brokerages, with an average 12-month price target of GBX 283.71.
• Recent broker targets remain bullish: Canaccord Genuity set GBX 340, Berenberg GBX 365, and Jefferies GBX 320, all maintaining “Buy” recommendations.
• The stock opened at GBX 275, near its GBX 283.71 consensus target, while the company reported GBX 2 earnings per share for the latest quarter and maintains oil and gas interests across the UK North Sea.

Shares of Serica Energy plc (LON:SQZ - Get Free Report) have earned a consensus rating of "Buy" from the seven brokerages that are covering the firm, MarketBeat.com reports. Seven equities research analysts have rated the stock with a buy recommendation. The average 1-year price target among brokerages that have issued a report on the stock in the last year is GBX 283.71.

SQZ has been the subject of a number of research analyst reports. Canaccord Genuity Group reaffirmed a "buy" rating and issued a GBX 340 target price on shares of Serica Energy in a research report on Monday, July 27th. Berenberg Bank reiterated a "buy" rating and issued a GBX 365 target price on shares of Serica Energy in a report on Thursday, August 6th. Finally, Jefferies Financial Group restated a "buy" rating and set a GBX 320 price target on shares of Serica Energy in a research note on Wednesday, September 9th.

Serica Energy Price Performance

SQZ opened at GBX 275 on Tuesday. Serica Energy has a 1 year low of GBX 158.20 and a 1 year high of GBX 302.40. 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 company's 50 day simple moving average is GBX 246.24 and its 200 day simple moving average is GBX 255.94. The stock has a market capitalization of £1.08 billion, a PE ratio of -19.98, a P/E/G ratio of 2.15 and a beta of 0.05.

Serica Energy (LON:SQZ - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported GBX 2 earnings per share for the quarter. Serica Energy had a negative net margin of 0.27% and a negative return on equity of 0.62%. As a group, sell-side analysts expect that Serica Energy will post 30.373444 EPS for the current 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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