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

Key Points

• Serica Energy's shares dropped by 14.5%, trading at GBX 152 ($2.06), following a significant increase in trading volume.
• Analysts maintain a consensus "Buy" rating for Serica Energy, with price targets ranging from GBX 190 to GBX 215.
• Insider Martin Copeland recently acquired 45,000 shares at an average cost of GBX 161, indicating confidence in the company's prospects.

Shares of Serica Energy plc (LON:SQZ - Get Free Report) traded down 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 traded hands 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 Upgrades and Downgrades

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

Serica Energy Trading Down 14.5%

The business has a 50-day moving average of GBX 169.04 and a 200-day moving average of GBX 149.59. 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 stock has a market cap of £593.60 million, a price-to-earnings ratio of -1,900.00, a PEG ratio of 2.15 and a beta of 0.44.

Insider Transactions at Serica Energy

In related news, insider Martin Copeland acquired 45,000 shares of the firm's stock in a transaction on Thursday, July 3rd. The shares were bought at an average cost of GBX 161 per share, with a total value of £72,450. 63.80% of the stock is owned by corporate insiders.

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.

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