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

Serica Energy plc (LON:SQZ) shares reached a new 52-week high during trading on Wednesday . The stock traded as high as GBX 302.40 and last traded at GBX 295, with a volume of 1889865 shares traded. The stock had previously closed at GBX 291.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on SQZ shares. Jefferies Financial Group restated a “buy” rating and set a GBX 250 price target on shares of Serica Energy in a research report on Friday, April 24th. Stifel Nicolaus raised their price target on Serica Energy from GBX 266 to GBX 281 and gave the stock a “buy” rating in a research report on Tuesday, March 31st. Berenberg Bank restated a “buy” rating and set a GBX 300 price target on shares of Serica Energy in a research report on Thursday, March 26th. Shore Capital Group restated a “buy” rating on shares of Serica Energy in a research report on Thursday, March 26th. Finally, Canaccord Genuity Group raised their price target on Serica Energy from GBX 230 to GBX 310 and gave the stock a “buy” rating in a research report on Monday, March 30th. Eight equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of GBX 254.50.

Serica Energy Stock Performance

The stock has a market capitalization of £1.03 billion, a PE ratio of -20.34, a price-to-earnings-growth ratio of 2.15 and a beta of 0.05. The stock has a fifty day moving average of GBX 266.17 and a 200-day moving average of GBX 219.86. The company has a quick ratio of 1.22, a current ratio of 1.14 and a debt-to-equity ratio of 33.93.

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.