Berenberg Bank Reaffirms Buy Rating for Serica Energy (LON:SQZ)

Serica Energy (LON:SQZ)‘s stock had its “buy” rating restated by analysts at Berenberg Bank in a report released on Thursday, Marketbeat.com reports. They presently have a GBX 300 price objective on the stock. Berenberg Bank’s price target would suggest a potential upside of 9.49% from the company’s previous close.

A number of other brokerages have also commented on SQZ. Shore Capital Group reiterated a “buy” rating and issued a GBX 235 price target on shares of Serica Energy in a research note on Thursday, January 22nd. Panmure Gordon lowered their price objective on shares of Serica Energy from GBX 270 to GBX 238 and set a “buy” rating on the stock in a research report on Tuesday, December 2nd. Finally, Canaccord Genuity Group raised their target price on shares of Serica Energy from GBX 225 to GBX 230 and gave the stock a “buy” rating in a report on Thursday, January 22nd. Seven equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of GBX 236.43.

Serica Energy Price Performance

Shares of LON:SQZ opened at GBX 274 on Thursday. The company has a debt-to-equity ratio of 33.93, a quick ratio of 1.22 and a current ratio of 1.14. The firm has a market cap of £1.07 billion, a price-to-earnings ratio of -34.25, a price-to-earnings-growth ratio of 2.15 and a beta of 0.78. The business has a 50-day simple moving average of GBX 235.12 and a two-hundred day simple moving average of GBX 202.77. Serica Energy has a fifty-two week low of GBX 112 and a fifty-two week high of GBX 287.50.

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.