Serica Energy (LON:SQZ) Earns "Buy" Rating from Shore Capital

Key Points

• Serica Energy has received a "buy" rating from Shore Capital, with a target price of GBX 225, indicating a potential upside of 18.90% from its previous close.
• Other analysts, including JPMorgan Chase and Canaccord Genuity, also maintain "buy" ratings, with target prices ranging between GBX 190 and GBX 240.
• Despite the positive ratings, Serica Energy's stock fell by 11.4% recently, closing at GBX 189.24, compared to its 50-day moving average of GBX 173.34.

Serica Energy (LON:SQZ - Get Free Report)'s stock had its "buy" rating reiterated by equities researchers at Shore Capital in a report issued on Wednesday, Marketbeat reports. They currently have a GBX 225 target price on the stock. Shore Capital's price objective would indicate a potential upside of 18.90% from the stock's previous close.

A number of other research firms also recently weighed in on SQZ. JPMorgan Chase & Co. reaffirmed a "buy" rating and issued a GBX 215 price target on shares of Serica Energy in a research note on Wednesday, August 13th. Canaccord Genuity Group upped their price target on shares of Serica Energy from GBX 215 to GBX 240 and gave the stock a "buy" rating in a research note on Friday, October 3rd. Peel Hunt reissued a "buy" rating and set a GBX 207 target price on shares of Serica Energy in a research report on Tuesday, September 30th. Finally, Jefferies Financial Group reissued a "buy" rating and set a GBX 190 target price on shares of Serica Energy in a research report on Tuesday, August 5th. Six investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of GBX 212.83.

Serica Energy Stock Down 11.4%

LON:SQZ traded down GBX 24.26 during trading hours on Wednesday, hitting GBX 189.24. 71,126,273 shares of the stock traded hands, compared to its average volume of 2,418,907. The firm has a 50 day moving average price of GBX 173.34 and a 200 day moving average price of GBX 156.26. The company has a current ratio of 1.69, a quick ratio of 1.22 and a debt-to-equity ratio of 26.31. Serica Energy has a fifty-two week low of GBX 112 and a fifty-two week high of GBX 217. The firm has a market cap of £739.03 million, a price-to-earnings ratio of -2,365.50, a PEG ratio of 2.15 and a beta of 0.44.

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.

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