Serica Energy (LON:SQZ) Stock Price Down 14.5% - What's Next?

Key Points

• Serica Energy's shares fell by 14.5% to GBX 152 ($2.06) during a trading session, significantly higher than the average daily volume with around 9.3 million shares traded.
• Despite the sharp decline, several analysts maintain a "buy" rating for Serica Energy, with target prices ranging from GBX 190 to GBX 215, and an average consensus target price of GBX 203.
• Insider trading activity includes a notable purchase by Martin Copeland, who acquired 45,000 shares at an average cost of GBX 161, indicating continued confidence in the company's potential.

Serica Energy plc (LON:SQZ - Get Free Report)'s stock price was down 14.5% on Wednesday . The stock traded as low as GBX 146 ($1.98) and last traded at GBX 152 ($2.06). Approximately 9,339,462 shares traded hands during trading, an increase of 359% from the average daily volume of 2,033,229 shares. The stock had previously closed at GBX 177.80 ($2.41).

Analysts Set New Price Targets

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

Serica Energy Price Performance

The company'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 PE ratio of -2,002.50, a P/E/G ratio of 2.15 and a beta of 0.44. The company has a current ratio of 1.69, a quick ratio of 1.22 and a debt-to-equity ratio of 26.31.

Insider Buying and Selling at Serica Energy

In related news, insider Martin Copeland bought 45,000 shares of the company's stock in a transaction dated Thursday, July 3rd. The stock was bought at an average price of GBX 161 per share, with a total value 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.