Serica Energy (LON:SQZ) Hits New 12-Month High – What’s Next?

Shares of Serica Energy plc (LON:SQZ) hit a new 52-week high during trading on Monday . The stock traded as high as GBX 282.73 and last traded at GBX 282.73, with a volume of 679681 shares trading hands. The stock had previously closed at GBX 267.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on SQZ shares. Shore Capital Group restated a “buy” rating and issued a GBX 235 price objective on shares of Serica Energy in a research note on Thursday, January 22nd. Panmure Gordon lowered their target price on shares of Serica Energy from GBX 270 to GBX 238 and set a “buy” rating on the stock in a research note on Tuesday, December 2nd. Finally, Canaccord Genuity Group lifted their target price on shares of Serica Energy from GBX 225 to GBX 230 and gave the stock a “buy” rating in a report on Thursday, January 22nd. Six equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of GBX 225.83.

Serica Energy Stock Performance

The stock has a market cap of £1.05 billion, a P/E ratio of -33.56, a P/E/G ratio of 2.15 and a beta of 0.05. The firm has a 50 day moving average of GBX 223.62 and a two-hundred day moving average of GBX 198.32. The company has a debt-to-equity ratio of 31.14, a quick ratio of 1.22 and a current ratio of 1.72.

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.