Serica Energy (LON:SQZ) Stock Price Crosses Above Two Hundred Day Moving Average - What's Next?

Key Points

• Serica Energy's shares have recently crossed above their 200-day moving average, trading at GBX 177.80 ($2.41) after reaching a high of GBX 178.40 ($2.41).
• Multiple analysts maintain a "buy" rating for Serica Energy, with target prices ranging from GBX 190 to GBX 215, suggesting strong market confidence.
• In insider trading news, Martin Copeland purchased 45,000 shares at an average price of GBX 161, indicating potential insider confidence in the company's future.

Serica Energy plc (LON:SQZ - Get Free Report)'s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 149.57 ($2.03) and traded as high as GBX 178.40 ($2.42). Serica Energy shares last traded at GBX 177.80 ($2.41), with a volume of 1,004,928 shares changing hands.

Analysts Set New Price Targets

Several research firms recently weighed in on SQZ. Shore Capital reiterated a "buy" rating on shares of Serica Energy in a report on Wednesday. Canaccord Genuity Group restated a "buy" rating and issued a GBX 190 price target on shares of Serica Energy in a research note on Thursday, July 31st. Jefferies Financial Group restated a "buy" rating and issued a GBX 190 price target on shares of Serica Energy in a research note on Tuesday, August 5th. Finally, JPMorgan Chase & Co. restated a "buy" rating and issued a GBX 215 price target on shares of Serica Energy in a research note on Wednesday, August 13th. Five analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of GBX 203.

Serica Energy Trading Up 5.5%

The company has a debt-to-equity ratio of 26.31, a current ratio of 1.69 and a quick ratio of 1.22. The business's 50 day moving average is GBX 168.81 and its 200 day moving average is GBX 150.16. The stock has a market cap of £625.62 million, a price-to-earnings ratio of -2,002.50, a P/E/G ratio of 2.15 and a beta of 0.44.

Insider Activity 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 stock was purchased at an average price of GBX 161 per share, for a total transaction of £72,450. Insiders own 63.80% of the company's stock.

Serica Energy Company Profile

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.