Serica Energy (LON:SQZ) Shares Up 14.6% - Still a Buy?

Key Points

• Serica Energy's share price increased by 14.6%, reaching a last traded value of GBX 197.40 ($2.65) and significantly higher than its previous close at GBX 172.20 ($2.32).
• Six research analysts have issued a "Buy" rating on Serica Energy, with a consensus target price of GBX 207.83 primarily from firms like Jefferies and JPMorgan Chase.
• The company has a market cap of £794.72 million and notable insider ownership, with insiders owning 63.80% of the company's stock, indicating strong confidence from management.

Serica Energy plc (LON:SQZ - Get Free Report)'s share price traded 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 changed 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 Upgrades and Downgrades

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

Serica Energy Stock Up 3.1%

The company has a market cap of £794.72 million, a PE ratio of -2,543.75, a P/E/G ratio of 2.15 and a beta of 0.44. The stock has a 50-day moving average of GBX 169.78 and a 200-day moving average of GBX 153.62. The company has a quick ratio of 1.22, a current ratio of 1.69 and a debt-to-equity ratio of 26.31.

Insider Activity

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

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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