Panmure Gordon Cuts Serica Energy (LON:SQZ) Price Target to GBX 238

Serica Energy (LON:SQZ) had its price objective lowered by Panmure Gordon from GBX 270 to GBX 238 in a report issued on Tuesday,London Stock Exchange reports. The brokerage currently has a “buy” rating on the stock. Panmure Gordon’s price objective suggests a potential upside of 40.98% from the stock’s current price.

A number of other brokerages have also recently weighed in on SQZ. JPMorgan Chase & Co. reiterated a “buy” rating and issued a GBX 215 price target on shares of Serica Energy in a research report on Wednesday, August 13th. Peel Hunt restated a “buy” rating and set a GBX 207 target price on shares of Serica Energy in a research report on Tuesday, November 4th. Shore Capital reiterated a “buy” rating and issued a GBX 230 price objective on shares of Serica Energy in a report on Friday, November 28th. Jefferies Financial Group upped their price objective on shares of Serica Energy from GBX 190 to GBX 230 and gave the company a “buy” rating in a research report on Monday, October 20th. Finally, Canaccord Genuity Group boosted their price objective on shares of Serica Energy from GBX 215 to GBX 240 and gave the company a “buy” rating in a research report on Friday, October 3rd. Seven investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Serica Energy presently has an average rating of “Buy” and a consensus target price of GBX 222.86.

Serica Energy Stock Performance

Shares of LON SQZ traded up GBX 2.41 during mid-day trading on Tuesday, hitting GBX 168.81. The company had a trading volume of 2,687,377 shares, compared to its average volume of 2,103,984. Serica Energy has a 12 month low of GBX 112 and a 12 month high of GBX 223. The firm has a market cap of £659.26 million, a P/E ratio of -21.10, a PEG ratio of 2.15 and a beta of 0.44. The business’s 50-day simple moving average is GBX 196.42 and its 200-day simple moving average is GBX 175.83. The company has a debt-to-equity ratio of 26.31, a current ratio of 1.69 and a quick ratio of 1.22.

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.