Shore Capital Reaffirms “Buy” Rating for Savannah Petroleum (LON:SAVP)

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

Several other research analysts also recently weighed in on SAVP. Mirabaud Securities restated a buy rating on shares of Savannah Petroleum in a research report on Wednesday, August 28th. Barclays reduced their price target on shares of 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.

SAVP opened at GBX 24.70 ($0.32) on Monday. Savannah Petroleum has a twelve month low of GBX 11.60 ($0.15) and a twelve month high of GBX 35 ($0.46). The company has a quick ratio of 0.15, a current ratio of 0.64 and a debt-to-equity ratio of 6.53. The company has a 50-day moving average price of GBX 19.02 and a 200 day moving average price of GBX 20.10. The company has a market cap of $217.30 million and a PE ratio of -7.72.

About Savannah Petroleum

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.

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