Serica Energy (LON:SQZ) Shares Up 14.6% - Should You Buy?

Key Points

• Shares of Serica Energy rose by 14.6%, reaching a price of GBX 197.40 ($2.65), with trading volume significantly increasing by 154% compared to the average.
• Equities analysts are optimistic, with an average rating of "Buy" and a target price of GBX 207.83, indicating positive sentiment toward the stock.
• Insider activity remains strong as 63.80% of the stock is owned by insiders, with Martin Copeland purchasing 45,000 shares at GBX 161 each.

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

Analyst Ratings Changes

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

Serica Energy Trading Up 14.6%

The company has a market cap of £770.90 million, a PE ratio of -2,467.50, a PEG ratio of 2.15 and a beta of 0.44. 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 stock has a 50 day moving average price of GBX 169.12 and a 200 day moving average price of GBX 153.32.

Insider Activity at Serica Energy

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