Serica Energy (LON:SQZ) Earns “Buy” Rating from JPMorgan Chase & Co.

Serica Energy (LON:SQZ)‘s stock had its “buy” rating reiterated by equities researchers at JPMorgan Chase & Co. in a research report issued to clients and investors on Wednesday, Marketbeat reports. They currently have a GBX 215 ($2.91) price objective on the stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 29.05% from the stock’s previous close.

Other equities analysts also recently issued research reports about the stock. Shore Capital reiterated a “buy” rating and issued a GBX 220 ($2.98) price target on shares of Serica Energy in a report on Tuesday, August 5th. Canaccord Genuity Group reiterated a “buy” rating and issued a GBX 190 ($2.57) price target on shares of Serica Energy in a report on Thursday, July 31st. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a GBX 190 ($2.57) price target on shares of Serica Energy in a report on Tuesday, August 5th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of GBX 203 ($2.75).

Serica Energy Stock Performance

Shares of Serica Energy stock opened at GBX 166.60 ($2.25) on Wednesday. The firm has a market capitalization of £821.04 million, a P/E ratio of -114.82, a PEG ratio of 2.15 and a beta of 0.44. The company has a quick ratio of 1.22, a current ratio of 1.69 and a debt-to-equity ratio of 26.31. The company has a 50 day moving average price of GBX 165.86 and a 200 day moving average price of GBX 145.21. Serica Energy has a 52 week low of GBX 110.40 ($1.49) and a 52 week high of GBX 188 ($2.54).

Insiders Place Their Bets

In other news, insider Martin Copeland acquired 45,000 shares of the company’s stock in a transaction dated Thursday, July 3rd. The shares were acquired at an average price of GBX 161 ($2.18) per share, with a total value of £72,450 ($98,024.62). Company insiders own 37.70% of the company’s stock.

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.