Shore Capital Reaffirms Buy Rating for Serica Energy (LON:SQZ)

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 reiterated their buy rating on shares of Serica Energy (LON:SQZ - Free Report) in a research report released on Tuesday morning, Marketbeat Ratings reports. Shore Capital currently has a GBX 220 ($2.96) price objective on the stock.

Other equities analysts have also issued research reports about the company. Jefferies Financial Group reiterated a "buy" rating and issued a GBX 190 ($2.56) target price on shares of Serica Energy in a research note on Tuesday. Canaccord Genuity Group reiterated a "buy" rating and set a GBX 190 ($2.56) price target on shares of Serica Energy in a research report on Thursday, July 31st.

Serica Energy Trading Up 0.1%

Shares of SQZ stock traded up GBX 0.20 ($0.00) on Tuesday, reaching GBX 165 ($2.22). 557,682 shares of the company's stock were exchanged, compared to its average volume of 2,029,943. Serica Energy has a 52 week low of GBX 110.40 ($1.48) and a 52 week high of GBX 188 ($2.53). The company has a current ratio of 1.69, a quick ratio of 1.22 and a debt-to-equity ratio of 26.31. The stock has a market capitalization of £813.16 million, a PE ratio of -113.72, a P/E/G ratio of 2.15 and a beta of 0.44. The company's fifty day simple moving average is GBX 165.17 and its 200 day simple moving average is GBX 144.60.

Insider Transactions at Serica Energy

In other Serica Energy news, insider Martin Copeland bought 45,000 shares of the business's stock in a transaction on Thursday, July 3rd. The stock was bought at an average price of GBX 161 ($2.17) per share, with a total value of £72,450 ($97,444.52). 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.