Serica Energy (LON:SQZ) Stock Price Passes Above 200-Day Moving Average - Here's Why

Key Points

• Serica Energy's share price crossed above its 200-day moving average, reaching a high of GBX 175.40 ($2.33) during trading on Wednesday.
• Shore Capital has issued a "buy" rating on Serica Energy, setting a price target of GBX 221 ($2.93) for the company's shares.
• Insider Martin Copeland purchased 45,000 shares at an average cost of GBX 161 ($2.13), indicating significant insider confidence in the stock.

Serica Energy plc (LON:SQZ - Get Free Report) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 143.90 ($1.91) and traded as high as GBX 175.40 ($2.33). Serica Energy shares last traded at GBX 172.80 ($2.29), with a volume of 1,720,443 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Shore Capital restated a "buy" rating and issued a GBX 221 ($2.93) price objective on shares of Serica Energy in a research note on Wednesday, July 23rd. Canaccord Genuity Group reissued a "buy" rating and set a GBX 190 ($2.52) price objective on shares of Serica Energy in a research note on Thursday.

Serica Energy Trading Down 3.8%

The company has a debt-to-equity ratio of 26.31, a quick ratio of 1.22 and a current ratio of 1.69. The business's 50 day moving average price is GBX 163.74 and its two-hundred day moving average price is GBX 144.13. The company has a market capitalization of £774.72 million, a price-to-earnings ratio of -108.34, a price-to-earnings-growth ratio of 2.15 and a beta of 0.44.

Insider Buying and Selling

In other news, insider Martin Copeland bought 45,000 shares of the company's stock in a transaction that occurred on Thursday, July 3rd. The stock was acquired at an average price of GBX 161 ($2.14) per share, for a total transaction of £72,450 ($96,202.36). 37.70% of the stock is owned by corporate 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.