Canaccord Genuity Group Raises Serica Energy (LON:SQZ) Price Target to GBX 230

Serica Energy (LON:SQZ) had its price objective increased by research analysts at Canaccord Genuity Group from GBX 225 to GBX 230 in a note issued to investors on Thursday, Marketbeat Ratings reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s target price indicates a potential upside of 10.58% from the stock’s previous close.

SQZ has been the subject of several other research reports. Jefferies Financial Group upped their price objective on shares of Serica Energy from GBX 190 to GBX 230 and gave the company a “buy” rating in a research note on Monday, October 20th. Shore Capital reissued a “buy” rating and issued a GBX 235 target price on shares of Serica Energy in a report on Thursday. Peel Hunt restated a “buy” rating and set a GBX 207 price target on shares of Serica Energy in a research note on Tuesday, November 4th. Finally, Panmure Gordon cut their price target on Serica Energy from GBX 270 to GBX 238 and set a “buy” rating on the stock in a research report on Tuesday, December 2nd. Seven investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of GBX 222.14.

Serica Energy Trading Up 1.0%

Shares of Serica Energy stock opened at GBX 208 on Thursday. The company has a current ratio of 1.69, a quick ratio of 1.22 and a debt-to-equity ratio of 26.31. The company has a fifty day simple moving average of GBX 182.90 and a 200-day simple moving average of GBX 181.25. The stock has a market cap of £812.29 million, a price-to-earnings ratio of -26.00, a PEG ratio of 2.15 and a beta of 0.44. Serica Energy has a 12-month low of GBX 112 and a 12-month high of GBX 223.

Insider Activity

In related news, insider Chris Cox purchased 64,007 shares of the company’s stock in a transaction that occurred on Tuesday, December 16th. The shares were purchased at an average price of GBX 170 per share, for a total transaction of £108,811.90. 63.80% of the stock is currently owned by corporate insiders.

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.