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JPMorgan Chase & Co. Reaffirms Buy Rating for Serica Energy (LON:SQZ)

Serica Energy logo with Energy background

Key Points

  • JPMorgan Chase & Co. has reaffirmed a "buy" rating for Serica Energy (LON:SQZ), setting a price target of GBX 215 ($2.90), indicating a potential upside of 27.98%.
  • Multiple analysts, including Canaccord Genuity and Jefferies Financial Group, have also reiterated buy ratings for Serica Energy, with target prices ranging from GBX 190 ($2.57) to GBX 220 ($2.97).
  • Serica Energy shares recently traded down to GBX 168 ($2.27), with a market capitalization of £827.94 million and insider ownership of 37.70%.
  • Need better tools to track Serica Energy? Try 5 Weeks of MarketBeat All Access for $5. Start Portfolio Tracking Now.

Serica Energy (LON:SQZ - Get Free Report)'s stock had its "buy" rating reiterated by analysts at JPMorgan Chase & Co. in a research report issued to clients and investors on Wednesday, Marketbeat reports. They presently have a GBX 215 ($2.90) price target on the stock. JPMorgan Chase & Co.'s price objective would indicate a potential upside of 27.98% from the company's current price.

SQZ has been the topic of several other reports. Canaccord Genuity Group reissued a "buy" rating and set a GBX 190 ($2.57) target price on shares of Serica Energy in a research note on Thursday, July 31st. Jefferies Financial Group reissued a "buy" rating and set a GBX 190 ($2.57) target price on shares of Serica Energy in a research note on Tuesday, August 5th. Finally, Shore Capital reissued a "buy" rating and set a GBX 220 ($2.97) target price on shares of Serica Energy in a research note on Tuesday, August 5th. Five analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of GBX 203 ($2.74).

Get Our Latest Analysis on SQZ

Serica Energy Trading Down 1.4%

Shares of SQZ traded down GBX 2.40 ($0.03) during trading hours on Wednesday, hitting GBX 168 ($2.27). 1,216,518 shares of the stock were exchanged, compared to its average volume of 2,014,795. Serica Energy has a fifty-two week low of GBX 110.40 ($1.49) and a fifty-two week high of GBX 188 ($2.54). 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 business has a 50-day moving average of GBX 165.59 and a 200-day moving average of GBX 144.90. The firm has a market capitalization of £827.94 million, a P/E ratio of -115.78, a price-to-earnings-growth ratio of 2.15 and a beta of 0.44.

Insider Buying and Selling at Serica Energy

In other Serica Energy news, insider Martin Copeland acquired 45,000 shares of the company's stock in a transaction on Thursday, July 3rd. The shares were purchased at an average cost of GBX 161 ($2.17) per share, with a total value of £72,450 ($97,812.88). Company insiders own 37.70% of the company's stock.

About Serica Energy

(Get Free Report)

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.

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