Serica Energy (LON:SQZ) Trading Down 14.5% - Time to Sell?

Key Points

• Serica Energy's stock price dropped by 14.5%, trading as low as GBX 146, highlighting significant volatility and increased trading volume of approximately 30 million shares.
• Despite the recent decline, several analysts continue to maintain a "buy" rating on Serica Energy, with price targets ranging from GBX 190 to GBX 215.
• Insider activity shows confidence in the company as Martin Copeland purchased 45,000 shares at an average price of GBX 161, representing strong insider ownership of 63.80%.

Shares of Serica Energy plc (LON:SQZ - Get Free Report) fell 14.5% during mid-day trading on Wednesday . The company traded as low as GBX 146 ($1.98) and last traded at GBX 152 ($2.06). 9,339,462 shares were traded during mid-day trading, an increase of 359% from the average session volume of 2,033,229 shares. The stock had previously closed at GBX 177.80 ($2.41).

Analyst Ratings Changes

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

Serica Energy Price Performance

The company has a fifty day simple moving average of GBX 168.84 and a two-hundred day simple moving average of GBX 149.76. 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 company has a market capitalization 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.

Insiders Place Their Bets

In other Serica Energy news, insider Martin Copeland purchased 45,000 shares of the business's stock in a transaction on Thursday, July 3rd. The stock was bought at an average cost of GBX 161 per share, for a total transaction of £72,450. Company 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.