Serica Energy (LON:SQZ) Shares Up 14.6% - Here's What Happened

Key Points

• Serica Energy's shares rose by 14.6% to trade at GBX 197.40 ($2.65), with significant trading volume of over 5 million shares, a 154% increase from the average daily volume.
• Multiple analysts have reaffirmed a "buy" rating on Serica Energy, with price targets ranging from GBX 190 to GBX 215, reflecting strong confidence in the stock.
• The company has a debt-to-equity ratio of 26.31 and a market capitalization of £770.90 million, indicating a solid financial position despite its high price-to-earnings ratio.

Serica Energy plc (LON:SQZ - Get Free Report) shares shot up 14.6% on Tuesday . The company traded as high as GBX 198.80 ($2.67) and last traded at GBX 197.40 ($2.65). 5,177,625 shares traded hands during mid-day trading, an increase of 154% from the average session volume of 2,035,568 shares. The stock had previously closed at GBX 172.20 ($2.32).

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Shore Capital reiterated a "buy" rating on shares of Serica Energy in a research report on Wednesday, September 10th. JPMorgan Chase & Co. reaffirmed a "buy" rating and issued a GBX 215 price target on shares of Serica Energy in a research note on Wednesday, August 13th. Peel Hunt reaffirmed a "buy" rating and issued a GBX 207 price target on shares of Serica Energy in a research report on Tuesday. Jefferies Financial Group reissued a "buy" rating and set a GBX 190 target price on shares of Serica Energy in a research report on Tuesday, August 5th. Finally, Canaccord Genuity Group reissued a "buy" rating and set a GBX 215 target price on shares of Serica Energy in a research report on Tuesday, September 16th. Six investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of GBX 207.83.

Serica Energy Price Performance

The company has a debt-to-equity ratio of 26.31, a current ratio of 1.69 and a quick ratio of 1.22. The company's 50-day simple moving average is GBX 169.78 and its 200-day simple moving average is GBX 153.62. The stock has a market capitalization of £770.90 million, a price-to-earnings ratio of -2,467.50, a P/E/G ratio of 2.15 and a beta of 0.44.

Insider Buying and Selling

In related news, insider Martin Copeland acquired 45,000 shares of the company'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. Company insiders own 63.80% of the company's stock.

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.

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