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

Key Points

• Shore Capital has reaffirmed a "buy" rating for Serica Energy, setting a price target of GBX 220 ($2.92), indicating a potential upside of 29.87%.
• Serica Energy's stock recently opened at GBX 169.40 ($2.25), showing a 7.8% increase.
• Insider Martin Copeland purchased 45,000 shares of Serica Energy at an average price of GBX 161 ($2.14), reflecting confidence in the company's prospects.

Shore Capital restated their buy rating on shares of Serica Energy (LON:SQZ - Free Report) in a research note issued to investors on Tuesday, MarketBeat reports. The firm currently has a GBX 220 ($2.96) price target on the stock.

SQZ has been the subject of several other research reports. Canaccord Genuity Group reaffirmed a "buy" rating and set a GBX 190 ($2.56) price target on shares of Serica Energy in a research note on Thursday, July 31st. Jefferies Financial Group reiterated a "buy" rating and issued a GBX 190 ($2.56) price target on shares of Serica Energy in a research report on Tuesday.

Serica Energy Price Performance

Shares of SQZ traded down GBX 2.60 ($0.03) on Tuesday, reaching GBX 164.80 ($2.22). The stock had a trading volume of 906,677 shares, compared to its average volume of 2,039,629. The firm has a 50-day moving average of GBX 164.94 and a 200 day moving average of GBX 144.54. The firm has a market capitalization of £812.17 million, a PE ratio of -113.58, a PEG ratio of 2.15 and a beta of 0.44. Serica Energy has a twelve month low of GBX 110.40 ($1.48) and a twelve month high of GBX 188 ($2.53). The company has a quick ratio of 1.22, a current ratio of 1.69 and a debt-to-equity ratio of 26.31.

Insider Activity

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

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.