Serica Energy's (SQZ) "Buy" Rating Reaffirmed at Jefferies Financial Group

Key Points

• Jefferies Financial Group reaffirmed a Buy on Serica Energy with a GBX 250 target price, implying an ~8.89% downside from the prior close.
• Analyst consensus remains positive — eight analysts rate the stock Buy with an average target of GBX 254.50, and several firms (Canaccord, Berenberg, Stifel) recently raised targets up to GBX 310.
• Shares traded at GBX 274.40 (up ~1.1%), giving Serica a market cap of £1.07bn and putting the price above both Jefferies' target and the analyst average while below the 52‑week high of GBX 296.50.

Serica Energy (LON:SQZ - Get Free Report)'s stock had its "buy" rating reissued by Jefferies Financial Group in a report released on Friday,London Stock Exchange reports. They presently have a GBX 250 price objective on the stock. Jefferies Financial Group's target price indicates a potential downside of 8.89% from the company's previous close.

A number of other analysts have also commented on SQZ. Canaccord Genuity Group lifted their target price on shares of Serica Energy from GBX 230 to GBX 310 and gave the stock a "buy" rating in a report on Monday, March 30th. Stifel Nicolaus lifted their target price on shares of Serica Energy from GBX 266 to GBX 281 and gave the stock a "buy" rating in a report on Tuesday, March 31st. Berenberg Bank reaffirmed a "buy" rating and set a GBX 300 target price on shares of Serica Energy in a report on Thursday, March 26th. Finally, Shore Capital Group reaffirmed a "buy" rating on shares of Serica Energy in a report on Thursday, March 26th. Eight analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has an average rating of "Buy" and an average target price of GBX 254.50.

Serica Energy Trading Up 1.1%

SQZ traded up GBX 3 during trading on Friday, reaching GBX 274.40. 2,186,284 shares of the company's stock were exchanged, compared to its average volume of 4,135,467. The company's fifty day moving average price is GBX 258.85 and its 200-day moving average price is GBX 215.68. The company has a debt-to-equity ratio of 33.93, a quick ratio of 1.22 and a current ratio of 1.14. Serica Energy has a fifty-two week low of GBX 117.28 and a fifty-two week high of GBX 296.50. The firm has a market capitalization of £1.07 billion, a PE ratio of -21.11, a P/E/G ratio of 2.15 and a beta of 0.05.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.