Serica Energy (LON:SQZ) Shares Up 14.6% - Time to Buy?

Key Points

• Serica Energy's shares rose 14.6% on Tuesday, reaching a high of GBX 198.80 ($2.67) after experiencing a trading volume increase of 154% compared to its average session volume.
• Multiple research analysts have reaffirmed a "buy" rating for Serica Energy, with target prices ranging from GBX 190 to GBX 215, indicating a consensus target price of approximately GBX 207.83.
• Insider Martin Copeland purchased 45,000 shares at an average cost of GBX 161, with insiders owning 63.80% of the company's stock.

Serica Energy plc (LON:SQZ - Get Free Report) shares traded 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). 5,177,625 shares were traded 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 ($2.31).

Analyst Upgrades and Downgrades

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

Serica Energy Trading 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 company's fifty day simple moving average is GBX 169.12 and its 200-day simple moving average is GBX 153.32. The company has a market capitalization of £770.90 million, a P/E ratio of -2,467.50, a PEG ratio of 2.15 and a beta of 0.44.

Insider Transactions at Serica Energy

In other Serica Energy news, insider Martin Copeland bought 45,000 shares of the company's stock in a transaction on Thursday, July 3rd. The shares were bought at an average cost 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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