Serica Energy (LON:SQZ) Stock Price Down 14.5% - Here's Why

Key Points

• Serica Energy's stock price fell 14.5% on Wednesday, trading as low as GBX 146 ($1.98) before closing at GBX 152 ($2.06), significantly higher than its previous close of GBX 177.80 ($2.41).
• Despite the decline, investment analysts maintain a positive outlook, with a consensus rating of "Buy" and a target price of GBX 203.
• Insider Martin Copeland purchased 45,000 shares of the company at an average price of GBX 161, indicating strong insider confidence as 63.80% of the stock is owned by insiders.

Serica Energy plc (LON:SQZ - Get Free Report) was down 14.5% during trading on Wednesday . The stock traded as low as GBX 146 ($1.98) and last traded at GBX 152 ($2.06). Approximately 9,339,462 shares traded hands during trading, an increase of 359% from the average daily volume of 2,033,229 shares. The stock had previously closed at GBX 177.80 ($2.41).

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Canaccord Genuity Group reissued a "buy" rating and issued a GBX 190 target price on shares of Serica Energy in a report on Thursday, July 31st. JPMorgan Chase & Co. reissued a "buy" rating and issued a GBX 215 target price on shares of Serica Energy in a report on Wednesday, August 13th. Jefferies Financial Group reissued a "buy" rating and issued a GBX 190 target price on shares of Serica Energy in a report on Tuesday, August 5th. Finally, Shore Capital reissued a "buy" rating on shares of Serica Energy in a report on Wednesday. Five analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of GBX 203.

Serica Energy Stock Performance

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 business's fifty day simple moving average is GBX 168.84 and its 200-day simple moving average is GBX 149.76. The firm has a market capitalization of £625.62 million, a PE ratio of -2,002.50, a price-to-earnings-growth ratio of 2.15 and a beta of 0.44.

Insider Buying and Selling at Serica Energy

In other Serica Energy news, insider Martin Copeland bought 45,000 shares of the business's stock in a transaction that occurred on Thursday, July 3rd. The stock was purchased at an average cost of GBX 161 per share, with a total value 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.