Serica Energy plc (LON:SQZ) Given Consensus Rating of "Buy" by Brokerages

Key Points

• Serica Energy has a consensus “Buy” rating from all eight analysts covering the stock, with an average 12-month price target of GBX 268.25.
• Recent broker updates remained positive: Berenberg set a GBX 350 target, Jefferies set GBX 310, Canaccord raised its target to GBX 310, and Stifel increased its target to GBX 281.
• Shares opened at GBX 250.18, near their 50-day and 200-day moving averages, while the stock’s one-year trading range is GBX 146 to GBX 302.40 and its market capitalization is approximately £977 million.

Serica Energy plc (LON:SQZ - Get Free Report) has earned a consensus rating of "Buy" from the eight brokerages that are covering the firm, Marketbeat.com reports. Eight equities research analysts have rated the stock with a buy recommendation. The average 1-year target price among analysts that have covered the stock in the last year is GBX 268.25.

Several equities research analysts have recently commented on the company. Berenberg Bank restated a "buy" rating and set a GBX 350 price objective on shares of Serica Energy in a report on Tuesday, June 2nd. Jefferies Financial Group reiterated a "buy" rating and issued a GBX 310 target price on shares of Serica Energy in a report on Tuesday, June 2nd. Canaccord Genuity Group lifted their price target on shares of Serica Energy from GBX 230 to GBX 310 and gave the company a "buy" rating in a research report on Monday, March 30th. Finally, Stifel Nicolaus boosted their price target on shares of Serica Energy from GBX 266 to GBX 281 and gave the company a "buy" rating in a research note on Tuesday, March 31st.

Serica Energy Stock Performance

Shares of Serica Energy stock opened at GBX 250.18 on Monday. The business has a 50-day simple moving average of GBX 246.46 and a 200 day simple moving average of GBX 245.02. Serica Energy has a one year low of GBX 146 and a one year high of GBX 302.40. The company has a debt-to-equity ratio of 33.93, a current ratio of 1.14 and a quick ratio of 1.22. The firm has a market capitalization of £977.08 million, a price-to-earnings ratio of -19.24, a PEG ratio of 2.15 and a beta of 0.05.

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. 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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