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

Key Points

• Serica Energy's shares surged 14.6% during mid-day trading, reaching as high as GBX 198.80 ($2.67), with total shares traded increasing by 154% from average session volume.
• Multiple brokerages have issued a "buy" rating for Serica Energy, with target prices ranging from GBX 190 to GBX 215, reflecting strong analyst confidence in the stock.
• Insider Martin Copeland purchased 45,000 shares at an average price of GBX 161, indicating significant insider investment as insiders own 63.80% of the company's stock.

Serica Energy plc (LON:SQZ - Get Free Report) shot up 14.6% during mid-day trading on Wednesday . The stock traded as high as GBX 198.80 ($2.67) and last traded at GBX 197.40 ($2.65). 5,177,625 shares were traded 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 ($2.32).

Wall Street Analyst Weigh In

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

Serica Energy Stock 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 fifty day simple moving average is GBX 169.78 and its two-hundred day simple moving average is GBX 153.62. The stock has a market cap of £776.37 million, a price-to-earnings ratio of -2,485.00, 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 acquired 45,000 shares of the stock in a transaction on Thursday, July 3rd. The shares were purchased at an average price of GBX 161 per share, for a total transaction of £72,450. 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.

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