Canaccord Genuity Group Boosts Serica Energy (LON:SQZ) Price Target to GBX 230

Serica Energy (LON:SQZ) had its price target boosted by Canaccord Genuity Group from GBX 225 to GBX 230 in a research note issued to investors on Thursday, Marketbeat.com reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective would indicate a potential upside of 11.38% from the company’s current price.

A number of other research firms also recently weighed in on SQZ. Shore Capital restated a “buy” rating and set a GBX 235 target price on shares of Serica Energy in a research report on Thursday. Panmure Gordon dropped their price objective on Serica Energy from GBX 270 to GBX 238 and set a “buy” rating for the company in a report on Tuesday, December 2nd. Peel Hunt reaffirmed a “buy” rating and issued a GBX 207 target price on shares of Serica Energy in a research note on Tuesday, November 4th. Finally, Jefferies Financial Group increased their price objective on shares of Serica Energy from GBX 190 to GBX 230 and gave the company a “buy” rating in a report on Monday, October 20th. Seven equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of GBX 222.14.

Serica Energy Stock Performance

Serica Energy stock opened at GBX 206.50 on Thursday. The firm has a market capitalization of £806.44 million, a P/E ratio of -25.81, a P/E/G ratio of 2.15 and a beta of 0.44. The stock has a fifty day moving average price of GBX 183.11 and a two-hundred day moving average price of GBX 180.74. Serica Energy has a 52-week low of GBX 112 and a 52-week high of GBX 223. The company has a debt-to-equity ratio of 26.31, a current ratio of 1.69 and a quick ratio of 1.22.

Insider Buying and Selling at Serica Energy

In other news, insider Chris Cox acquired 64,007 shares of Serica Energy stock in a transaction dated Tuesday, December 16th. The stock was bought at an average price of GBX 170 per share, for a total transaction of £108,811.90. 63.80% of the stock is owned by insiders.

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.