Serica Energy (LON:SQZ) Hits New 1-Year High - Here's What Happened

Key Points

• 52-week high: Serica Energy shares reached GBX 296.80 (last at GBX 293.24) on Thursday with about 187,123 shares traded, leaving the stock up roughly 1.9% intraday.
• Analyst support: Eight analysts have a consensus Buy rating with an average price target of GBX 254.50, and several firms recently raised targets (e.g., Canaccord to GBX 310, Berenberg to GBX 300).
• Fundamentals: the company has a market cap of £1.14 billion, a negative P/E of -22.54, a low beta of 0.05, and 50-/200-day moving averages of GBX 263.81 and GBX 218.14, respectively, suggesting recent upward momentum despite negative earnings multiples.

Serica Energy plc (LON:SQZ - Get Free Report)'s share price reached a new 52-week high during trading on Thursday . The stock traded as high as GBX 296.80 and last traded at GBX 293.24, with a volume of 187123 shares changing hands. The stock had previously closed at GBX 287.60.

Analyst Ratings Changes

Several research firms recently commented on SQZ. Jefferies Financial Group reiterated a "buy" rating and issued a GBX 250 price objective on shares of Serica Energy in a research note on Friday, April 24th. Canaccord Genuity Group upped their price objective on Serica Energy from GBX 230 to GBX 310 and gave the company a "buy" rating in a research note on Monday, March 30th. Shore Capital Group reiterated a "buy" rating on shares of Serica Energy in a research note on Thursday, March 26th. Stifel Nicolaus upped their price objective on Serica Energy from GBX 266 to GBX 281 and gave the company a "buy" rating in a research note on Tuesday, March 31st. Finally, Berenberg Bank reiterated a "buy" rating and issued a GBX 300 price objective on shares of Serica Energy in a research note on Thursday, March 26th. Eight equities research 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 254.50.

Serica Energy Trading Up 1.9%

The stock has a market cap of £1.14 billion, a PE ratio of -22.54, a P/E/G ratio of 2.15 and a beta of 0.05. The firm has a 50-day simple moving average of GBX 263.81 and a 200-day simple moving average of GBX 218.14. The company has a quick ratio of 1.22, a current ratio of 1.14 and a debt-to-equity ratio of 33.93.

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. It also has 50% interest in the Columbus development; and 20% interest in the Skerryvore and Ruvaal prospects located in Central North Sea, as well as 100% interest in the North and South Eigg exploration prospects located in the Northern North Sea.

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