Serica Energy's (SQZ) "Buy" Rating Reaffirmed at Shore Capital

Key Points

• Serica Energy's stock has been rated as a "buy" by multiple analysts including Shore Capital, Jefferies Financial Group, and JPMorgan Chase & Co., signaling strong investor confidence.
• The company's shares have experienced a 13.5% decline recently, with current trading prices around GBX 153.86, despite a consensus target price of GBX 203.
• Insider Martin Copeland purchased 45,000 shares at an average cost of GBX 161 each, indicating strong internal support for the stock amidst current market fluctuations.

Shore Capital reiterated their buy rating on shares of Serica Energy (LON:SQZ - Free Report) in a research report report published on Wednesday, Marketbeat reports.

A number of other research analysts have also commented on the company. JPMorgan Chase & Co. reissued a "buy" rating and set a GBX 215 price target on shares of Serica Energy in a report on Wednesday, August 13th. Canaccord Genuity Group reissued a "buy" rating and set a GBX 190 price target on shares of Serica Energy in a report on Thursday, July 31st. Finally, Jefferies Financial Group reissued a "buy" rating and set a GBX 190 price target on shares of Serica Energy in a report on Tuesday, August 5th. Five analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of GBX 203.

Serica Energy Stock Performance

SQZ stock traded up GBX 8.40 during mid-day trading on Wednesday, reaching GBX 160.20. The company had a trading volume of 2,696,529 shares, compared to its average volume of 2,041,413. 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 stock has a market capitalization of £625.62 million, a P/E ratio of -2,002.50, a P/E/G ratio of 2.15 and a beta of 0.44. Serica Energy has a one year low of GBX 112 and a one year high of GBX 188. The stock's 50-day simple moving average is GBX 168.81 and its two-hundred day simple moving average is GBX 150.16.

Insider Transactions at Serica Energy

In other news, insider Martin Copeland bought 45,000 shares of the stock in a transaction that occurred on Thursday, July 3rd. The shares were purchased at an average cost of GBX 161 per share, with a total value of £72,450. 63.80% of the stock is currently owned by insiders.

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.