Serica Energy (LON:SQZ) Trading Down 13.5% - What's Next?

Key Points

• Serica Energy's shares dropped by 13.5% on Wednesday, trading as low as GBX 146 ($1.98) after a previous close of GBX 177.80 ($2.41).
• Five equities research analysts have rated the stock with a consensus "Buy" rating and an average price target of GBX 203.
• Insider Martin Copeland purchased 45,000 shares at an average price of GBX 161, indicating confidence from within the company as insiders own 63.80% of the stock.

Serica Energy plc (LON:SQZ - Get Free Report)'s share price traded down 13.5% during trading on Wednesday . The stock traded as low as GBX 146 ($1.98) and last traded at GBX 153.86 ($2.09). 27,882,211 shares changed hands during trading, an increase of 1,203% from the average session volume of 2,139,188 shares. The stock had previously closed at GBX 177.80 ($2.41).

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Jefferies Financial Group restated a "buy" rating and set a GBX 190 price target on shares of Serica Energy in a research note on Tuesday, August 5th. Canaccord Genuity Group reiterated a "buy" rating and issued a GBX 190 price objective on shares of Serica Energy in a research report on Thursday, July 31st. JPMorgan Chase & Co. reiterated a "buy" rating and issued a GBX 215 price objective on shares of Serica Energy in a research report on Wednesday, August 13th. Finally, Shore Capital reiterated a "buy" rating on shares of Serica Energy in a research report on Wednesday, September 10th. Five analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of GBX 203.

Serica Energy Price Performance

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 company has a market cap of £624.06 million, a price-to-earnings ratio of -1,997.50, a price-to-earnings-growth ratio of 2.15 and a beta of 0.44. The company has a fifty day simple moving average of GBX 168.81 and a two-hundred day simple moving average of GBX 150.32.

Insider Activity at Serica Energy

In related news, insider Martin Copeland acquired 45,000 shares of the firm's stock in a transaction that occurred on Thursday, July 3rd. The shares were acquired at an average price 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.