Savannah Petroleum (LON:SAVP) Stock Rating Reaffirmed by Shore Capital
Shore Capital reiterated their buy rating on shares of Savannah Petroleum (LON:SAVP) in a report published on Friday morning, Digital Look reports.
Separately, Barclays reduced their target price on shares of Savannah Petroleum from GBX 55 ($0.72) to GBX 31 ($0.41) and set an overweight rating on the stock in a research report on Monday, June 24th.
LON:SAVP opened at GBX 16.80 ($0.22) on Friday. The firm has a market capitalization of $147.80 million and a price-to-earnings ratio of -5.25. Savannah Petroleum has a 12 month low of GBX 16.78 ($0.22) and a 12 month high of GBX 35 ($0.46). The company has a debt-to-equity ratio of 6.53, a quick ratio of 0.15 and a current ratio of 0.64. The company has a 50-day moving average price of GBX 19.47.
Savannah Petroleum Plc, an oil and gas company, engages in the exploration of hydrocarbons in the Republic of Niger. The company's principal assets are the R1/R2 and R3/R4 PSC that cover an area of 13,655 km2 located in the Agadem rift basin in South East Niger. Savannah Petroleum Plc was incorporated in 2014 and is based in London, the United Kingdom.
Further Reading: Oversold
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