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

Serica Energy plc (LON:SQZ)’s stock price shot up 6.6% during mid-day trading on Tuesday after Stifel Nicolaus raised their price target on the stock from GBX 266 to GBX 281. Stifel Nicolaus 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 subject of a number of other research reports. Panmure Gordon dropped their price objective on shares of Serica Energy from GBX 270 to GBX 238 and set a “buy” rating for the company in a report on Tuesday, December 2nd. Berenberg Bank reiterated a “buy” rating and set a GBX 300 target price on shares of Serica Energy in a report on Thursday, March 26th. Shore Capital Group reissued a “buy” rating on shares of Serica Energy in a research report on Thursday, March 26th. Finally, Canaccord Genuity Group boosted their price target on shares of Serica Energy from GBX 230 to GBX 310 and gave the stock a “buy” rating in a research note on Monday. Eight equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Serica Energy currently has an average rating of “Buy” and a consensus price target of GBX 252.

Serica Energy Price Performance

The stock’s 50 day moving average is GBX 238.89 and its two-hundred day moving average is GBX 205.23. The stock has a market capitalization of £1.15 billion, a PE ratio of -36.75, a price-to-earnings-growth ratio of 2.15 and a beta of 0.78. The company has a debt-to-equity ratio of 33.93, a current ratio of 1.14 and a quick ratio of 1.22.

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.