Berenberg Bank Reaffirms “Buy” Rating for Serica Energy (LON:SQZ)

Serica Energy (LON:SQZ)‘s stock had its “buy” rating reaffirmed by equities research analysts at Berenberg Bank in a note issued to investors on Monday,Digital Look reports. They currently have a GBX 365 price target on the stock. Berenberg Bank’s target price would suggest a potential upside of 46.49% from the company’s current price.

Several other brokerages have also recently weighed in on SQZ. Jefferies Financial Group reaffirmed a “buy” rating and issued a GBX 310 price target on shares of Serica Energy in a research report on Tuesday, June 2nd. Canaccord Genuity Group boosted their price objective on Serica Energy from GBX 230 to GBX 310 and gave the stock a “buy” rating in a report on Monday, March 30th. Finally, Stifel Nicolaus increased their price objective on Serica Energy from GBX 266 to GBX 281 and gave the stock a “buy” rating in a research note on Tuesday, March 31st. Eight analysts have rated the stock with a Buy rating, According to MarketBeat.com, Serica Energy currently has an average rating of “Buy” and a consensus target price of GBX 270.12.

Serica Energy Trading Down 3.1%

LON:SQZ opened at GBX 249.16 on Monday. The company has a debt-to-equity ratio of 33.93, a current ratio of 1.14 and a quick ratio of 1.22. The firm has a 50-day moving average of GBX 246.46 and a 200-day moving average of GBX 245.02. The company has a market cap of £973.12 million, a PE ratio of -19.17, a PEG ratio of 2.15 and a beta of 0.05. Serica Energy has a one year low of GBX 146 and a one year high of GBX 302.40.

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.