Serica Energy (LON:SQZ) Trading Down 13.8% - What's Next?

Key Points

• Serica Energy's share price experienced a significant decline of 13.8%, closing at GBX 153.20 ($2.07) after trading as low as GBX 146 ($1.98).
• Despite the drop, five equity research analysts maintain a "buy" rating for the stock, with an average target price of GBX 203.
• Insider activity is notable, as Martin Copeland purchased 45,000 shares at an average of GBX 161 per share, reflecting insider confidence in the company.

Serica Energy plc (LON:SQZ - Get Free Report) shares dropped 13.8% during mid-day trading on Wednesday . The company traded as low as GBX 146 ($1.98) and last traded at GBX 153.20 ($2.08). Approximately 29,646,795 shares were traded during mid-day trading, an increase of 1,279% from the average daily volume of 2,149,271 shares. The stock had previously closed at GBX 177.80 ($2.41).

Analyst Ratings Changes

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

Serica Energy Stock Performance

The company has a current ratio of 1.69, a quick ratio of 1.22 and a debt-to-equity ratio of 26.31. The firm has a market capitalization of £624.06 million, a PE ratio of -1,997.50, a PEG ratio of 2.15 and a beta of 0.44. The stock's 50 day moving average price is GBX 168.81 and its two-hundred day moving average price is GBX 150.32.

Insider Buying and Selling at Serica Energy

In related news, insider Martin Copeland acquired 45,000 shares of Serica Energy stock in a transaction dated Thursday, July 3rd. The shares were acquired at an average cost of GBX 161 per share, for a total transaction of £72,450. 63.80% of the stock is currently owned by company 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.