Canaccord Genuity Group Reiterates Buy Rating for Serica Energy (LON:SQZ)

Key Points

• Serica Energy's stock received a "buy" rating from Canaccord Genuity Group, with a price target of GBX 190 ($2.52), indicating a potential upside of 12.69% from the current price.
• In separate coverage, Shore Capital also reaffirmed a "buy" rating for Serica Energy, setting a higher target price of GBX 221 ($2.93).
• Insider Martin Copeland purchased 45,000 shares at GBX 161 ($2.13) per share, reflecting confidence in the company's performance as insiders own 37.70% of the stock.

Canaccord Genuity Group reissued their buy rating on shares of Serica Energy (LON:SQZ - Free Report) in a report issued on Thursday, Marketbeat reports. Canaccord Genuity Group currently has a GBX 190 ($2.52) price target on the stock.

Separately, Shore Capital restated a "buy" rating and set a GBX 221 ($2.93) price objective on shares of Serica Energy in a research report on Wednesday, July 23rd.

Serica Energy Price Performance

SQZ stock traded down GBX 4.60 ($0.06) during trading on Thursday, reaching GBX 163.40 ($2.17). 2,030,159 shares of the company were exchanged, compared to its average volume of 2,041,994. Serica Energy has a twelve month low of GBX 110.40 ($1.47) and a twelve month high of GBX 188 ($2.50). 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 company has a market capitalization of £805.27 million, a price-to-earnings ratio of -112.61, a P/E/G ratio of 2.15 and a beta of 0.44. The company has a 50-day moving average of GBX 163.74 and a two-hundred day moving average of GBX 144.19.

Insider Transactions at Serica Energy

In other Serica Energy news, insider Martin Copeland purchased 45,000 shares of the business's stock in a transaction dated Thursday, July 3rd. The shares were bought at an average price of GBX 161 ($2.14) per share, for a total transaction of £72,450 ($96,164.06). Company insiders own 37.70% of the company's stock.

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.