Serica Energy (LON:SQZ) Stock Price Up 6.6% After Analyst Upgrade

Serica Energy plc (LON:SQZ) shot up 6.6% during mid-day trading on Tuesday after Canaccord Genuity Group raised their price target on the stock from GBX 230 to GBX 310. Canaccord Genuity Group currently has a buy rating on the stock. Serica Energy traded as high as GBX 296.50 and last traded at GBX 292. 6,976,570 shares were traded during trading, an increase of 76% from the average session volume of 3,963,004 shares. The stock had previously closed at GBX 274.

SQZ has been the topic of several other research reports. Panmure Gordon lowered their target price on shares of Serica Energy from GBX 270 to GBX 238 and set a “buy” rating on the stock in a report on Tuesday, December 2nd. Shore Capital Group restated a “buy” rating on shares of Serica Energy in a research report on Thursday, March 26th. Finally, Berenberg Bank reaffirmed a “buy” rating and set a GBX 300 price objective on shares of Serica Energy in a research note on Thursday, March 26th. Seven analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Serica Energy has a consensus rating of “Buy” and a consensus target price of GBX 247.86.

Serica Energy Trading Up 6.6%

The company has a current ratio of 1.14, a quick ratio of 1.22 and a debt-to-equity ratio of 33.93. The stock has a market cap of £1.14 billion, a P/E ratio of -36.50, a price-to-earnings-growth ratio of 2.15 and a beta of 0.78. The business’s fifty day simple moving average is GBX 236.98 and its 200 day simple moving average is GBX 204.29.

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.