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

Key Points

• Serica Energy's shares surged by 14.6% during trading on Tuesday, reaching a high of GBX 198.80 ($2.67) and resulting in a significant increase in trading volume.
• Multiple analysts have reaffirmed a buy rating for Serica Energy, with price targets ranging from GBX 190 to GBX 215, indicating strong confidence in the stock.
• Insider Martin Copeland purchased 45,000 shares at an average price of GBX 161, highlighting insider confidence in the company.

Serica Energy plc (LON:SQZ - Get Free Report)'s share price shot up 14.6% during trading on Tuesday . The stock traded as high as GBX 198.80 ($2.67) and last traded at GBX 197.40 ($2.65). 5,177,625 shares changed hands during trading, an increase of 154% from the average session volume of 2,035,568 shares. The stock had previously closed at GBX 172.20 ($2.31).

Analyst Ratings Changes

Several research firms recently commented on SQZ. Peel Hunt reissued a "buy" rating and set 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 price target on shares of Serica Energy in a research report on Tuesday, August 5th. Canaccord Genuity Group restated a "buy" rating and set a GBX 215 price objective on shares of Serica Energy in a report on Tuesday, September 16th. JPMorgan Chase & Co. restated a "buy" rating and set a GBX 215 price objective on shares of Serica Energy in a report on Wednesday, August 13th. Finally, Shore Capital restated a "buy" rating on shares of Serica Energy in a report on Wednesday, September 10th. Six investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Serica Energy currently has an average rating of "Buy" and an average target price of GBX 207.83.

Serica Energy Stock Up 14.6%

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 firm has a fifty day simple moving average of GBX 169.12 and a 200-day simple moving average of GBX 153.32. The company has a market capitalization of £770.90 million, a PE ratio of -2,467.50, a P/E/G ratio of 2.15 and a beta of 0.44.

Insider Buying and Selling at Serica Energy

In other news, insider Martin Copeland purchased 45,000 shares of the stock in a transaction dated Thursday, July 3rd. The stock was acquired 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.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.