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

Key Points

• The stock price of Serica Energy fell by 14.5% during mid-day trading, reaching GBX 152 ($2.06) after trading as low as GBX 146 ($1.98).
• Despite the recent decline, the stock maintains a consensus rating of "Buy" from several analysts with a target price around GBX 203.
• Insider Martin Copeland purchased 45,000 shares at an average price of GBX 161 on July 3rd, indicating confidence in the company's future performance.

Serica Energy plc (LON:SQZ - Get Free Report)'s stock price fell 14.5% during mid-day trading on Thursday . The company traded as low as GBX 146 ($1.98) and last traded at GBX 152 ($2.06). 9,339,462 shares changed 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).

Wall Street Analyst Weigh In

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

Serica Energy Stock Up 2.2%

The company has a 50-day moving average of GBX 169.04 and a 200-day moving average of GBX 149.59. 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 company has a market capitalization of £606.78 million, a price-to-earnings ratio of -1,942.20, a price-to-earnings-growth ratio of 2.15 and a beta of 0.44.

Insider Activity

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