Savannah Petroleum (LON:SAVP) Stock Passes Above 50 Day Moving Average of $17.65

Shares of Savannah Petroleum PLC (LON:SAVP) passed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $17.65 and traded as high as $23.50. Savannah Petroleum shares last traded at $22.95, with a volume of 876,116 shares traded.

Several equities research analysts recently issued reports on the stock. Mirabaud Securities restated a “buy” rating on shares of Savannah Petroleum in a report on Wednesday, August 28th. Barclays dropped their price target on shares of Savannah Petroleum from GBX 55 ($0.72) to GBX 31 ($0.41) and set an “overweight” rating on the stock in a research note on Monday, June 24th. Finally, Shore Capital reiterated a “buy” rating on shares of Savannah Petroleum in a research note on Monday, August 19th.

The company’s 50 day moving average price is GBX 17.84 and its two-hundred day moving average price is GBX 20.16. The firm has a market cap of $201.91 million and a PE ratio of -7.17. The company has a current ratio of 0.64, a quick ratio of 0.15 and a debt-to-equity ratio of 6.53.

Savannah Petroleum Company Profile (LON:SAVP)

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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