Jefferies Financial Group Reiterates Buy Rating for Serica Energy (LON:SQZ)

Key Points

• Jefferies Financial Group has reaffirmed a "buy" rating for Serica Energy (LON:SQZ) with a target price of GBX 190 ($2.53), indicating a potential upside of 12.16% from its current price.
• Other analysts, including Canaccord Genuity Group and Shore Capital, have also maintained "buy" ratings for Serica Energy, with target prices of GBX 190 and GBX 221 ($2.94), respectively.
• Insider Martin Copeland purchased 45,000 shares of Serica Energy at an average cost of GBX 161 ($2.14) per share, reflecting strong insider confidence in the company's future.

Serica Energy (LON:SQZ - Get Free Report)'s stock had its "buy" rating reissued by research analysts at Jefferies Financial Group in a research note issued to investors on Tuesday, Marketbeat Ratings reports. They presently have a GBX 190 ($2.56) price target on the stock. Jefferies Financial Group's price objective indicates a potential upside of 15.29% from the company's previous close.

A number of other research analysts have also recently weighed in on SQZ. Canaccord Genuity Group reaffirmed a "buy" rating and issued a GBX 190 ($2.56) price objective on shares of Serica Energy in a report on Thursday, July 31st. Shore Capital restated a "buy" rating and issued a GBX 221 ($2.97) price target on shares of Serica Energy in a research note on Wednesday, July 23rd.

Serica Energy Stock Performance

Shares of LON SQZ traded down GBX 2.60 ($0.03) during midday trading on Tuesday, reaching GBX 164.80 ($2.22). 906,677 shares of the stock were exchanged, compared to its average volume of 2,039,629. The company has a quick ratio of 1.22, a current ratio of 1.69 and a debt-to-equity ratio of 26.31. The firm has a market cap of £812.17 million, a price-to-earnings ratio of -113.58, a PEG ratio of 2.15 and a beta of 0.44. The firm has a 50-day simple moving average of GBX 164.94 and a two-hundred day simple moving average of GBX 144.54. Serica Energy has a twelve month low of GBX 110.40 ($1.48) and a twelve month high of GBX 188 ($2.53).

Insiders Place Their Bets

In related news, insider Martin Copeland acquired 45,000 shares of the stock in a transaction dated Thursday, July 3rd. The stock was acquired at an average cost of GBX 161 ($2.17) per share, with a total value of £72,450 ($97,431.41). 37.70% of the stock is currently owned by company insiders.

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.