Serica Energy (LON:SQZ) Shares Down 14.5% - What's Next?

Key Points

• Serica Energy's stock price has fallen 14.5%, trading as low as GBX 146 ($1.98) during mid-day trading on Thursday.
• Despite the recent decline, five research analysts maintain a "Buy" rating for Serica Energy, with an average target price of GBX 203.
• Insider Martin Copeland purchased 45,000 shares at an average cost of GBX 161 each, signaling confidence in the company's future.

Serica Energy plc (LON:SQZ - Get Free Report)'s share price was down 14.5% during trading on Thursday . The company traded as low as GBX 146 ($1.98) and last traded at GBX 152 ($2.06). Approximately 9,339,462 shares traded hands during mid-day 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

A number of equities research analysts recently weighed in on SQZ shares. Jefferies Financial Group restated a "buy" rating and set a GBX 190 price objective on shares of Serica Energy in a research note on Tuesday, August 5th. Canaccord Genuity Group reaffirmed a "buy" rating and set a GBX 190 price objective on shares of Serica Energy in a research report on Thursday, July 31st. JPMorgan Chase & Co. reaffirmed a "buy" rating and set a GBX 215 price objective on shares of Serica Energy in a research note on Wednesday, August 13th. Finally, Shore Capital reiterated 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, Serica Energy presently has an average rating of "Buy" and a consensus target price of GBX 203.

Serica Energy Price Performance

The stock's fifty day moving average is GBX 168.84 and its 200-day moving average is GBX 149.76. The stock has a market capitalization of £625.62 million, a P/E ratio of -2,002.50, a PEG ratio of 2.15 and a beta of 0.44. The company has a debt-to-equity ratio of 26.31, a current ratio of 1.69 and a quick ratio of 1.22.

Insider Activity at Serica Energy

In other Serica Energy news, insider Martin Copeland purchased 45,000 shares of the stock in a transaction on Thursday, July 3rd. The shares were purchased 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.

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.