Serica Energy (LON:SQZ) Reaches New 1-Year High – Here’s Why

Serica Energy plc (LON:SQZ) hit a new 52-week high during trading on Monday . The company traded as high as GBX 287.50 and last traded at GBX 287.50, with a volume of 867229 shares trading hands. The stock had previously closed at GBX 274.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Berenberg Bank restated a “buy” rating and set a GBX 300 target price on shares of Serica Energy in a report on Thursday. Shore Capital Group reiterated a “buy” rating on shares of Serica Energy in a research report on Thursday. Canaccord Genuity Group raised their price objective on shares of Serica Energy from GBX 225 to GBX 230 and gave the stock a “buy” rating in a research note on Thursday, January 22nd. Finally, Panmure Gordon cut their price objective on Serica Energy from GBX 270 to GBX 238 and set a “buy” rating for the company in a research report on Tuesday, December 2nd. Seven research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of GBX 236.43.

Serica Energy Trading Up 3.8%

The company has a quick ratio of 1.22, a current ratio of 1.14 and a debt-to-equity ratio of 33.93. The firm has a market cap of £1.11 billion, a price-to-earnings ratio of -35.56, a price-to-earnings-growth ratio of 2.15 and a beta of 0.78. The business has a 50 day moving average of GBX 235.12 and a 200 day moving average of GBX 203.30.

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.