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

Key Points

• Shore Capital reaffirmed a "Buy" rating on Serica Energy (LON:SQZ); the stock has a consensus Buy from seven analysts with an average target price of GBX 236.43.
• SQZ opened at GBX 258.05, trading near its 52-week high of GBX 287.50 (52-week low GBX 112) and has a market cap of £1.01 billion with a negative P/E of -32.26.
• Serica Energy is an upstream oil and gas company with major North Sea interests, including 100% of the Keith field, 98% of Bruce and 50% of Rhum, plus stakes in several other developments and prospects.

Serica Energy (LON:SQZ - Get Free Report)'s stock had its "buy" rating reaffirmed by Shore Capital Group in a research note issued to investors on Thursday, Marketbeat.com reports.

SQZ has been the subject of a number of other research reports. Panmure Gordon cut their target price on shares of Serica Energy from GBX 270 to GBX 238 and set a "buy" rating for the company in a research report on Tuesday, December 2nd. Canaccord Genuity Group boosted their price target on shares of Serica Energy from GBX 225 to GBX 230 and gave the company a "buy" rating in a report on Thursday, January 22nd. Finally, Berenberg Bank reaffirmed a "buy" rating and issued a GBX 300 price target on shares of Serica Energy in a research note on Thursday. Seven research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Serica Energy currently has a consensus rating of "Buy" and an average target price of GBX 236.43.

Serica Energy Stock Performance

SQZ stock opened at GBX 258.05 on Thursday. The firm has a 50 day simple moving average of GBX 232.51 and a 200 day simple moving average of GBX 201.69. Serica Energy has a 52 week low of GBX 112 and a 52 week high of GBX 287.50. The stock has a market cap of £1.01 billion, a P/E ratio of -32.26, a P/E/G ratio of 2.15 and a beta of 0.05. The company has a debt-to-equity ratio of 31.14, a quick ratio of 1.22 and a current ratio of 1.72.

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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