Savannah Petroleum’s (SAVP) Buy Rating Reiterated at Shore Capital

Shore Capital reiterated their buy rating on shares of Savannah Petroleum (LON:SAVP) in a research report released on Monday, ThisIsMoney.Co.Uk reports.

Separately, Barclays decreased their price objective on Savannah Petroleum from GBX 55 ($0.72) to GBX 31 ($0.41) and set an overweight rating for the company in a research report on Monday, June 24th.

Shares of SAVP opened at GBX 19.20 ($0.25) on Monday. The company has a debt-to-equity ratio of 6.53, a quick ratio of 0.15 and a current ratio of 0.64. The stock has a 50 day simple moving average of GBX 13.42 and a 200 day simple moving average of GBX 20.51. Savannah Petroleum has a 52-week low of GBX 11.60 ($0.15) and a 52-week high of GBX 35 ($0.46). The firm has a market capitalization of $168.92 million and a PE ratio of -6.00.

Savannah Petroleum Company Profile

Savannah Petroleum Plc, an oil and gas company, engages in the exploration of hydrocarbons in the Republic of Niger. The company's principal assets are the R1/R2 and R3/R4 PSC that cover an area of 13,655 km2 located in the Agadem rift basin in South East Niger. Savannah Petroleum Plc was incorporated in 2014 and is based in London, the United Kingdom.

Further Reading: Hold Rating

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