Serica Energy (LON:SQZ) Stock Price Down 15.3% - Time to Sell?

Key Points

• Serica Energy's stock price fell by 15.3% during trading, reaching a low of GBX 146 ($1.98) before closing at GBX 150.60 ($2.04).
• Despite the recent decline, multiple analysts have maintained a "buy" rating for Serica Energy, with a consensus price target of GBX 203.
• Insider Martin Copeland recently purchased 45,000 shares at an average cost of GBX 161, indicating confidence in the company's future performance.

Serica Energy plc (LON:SQZ - Get Free Report) traded down 15.3% during trading on Wednesday . The stock traded as low as GBX 146 ($1.98) and last traded at GBX 150.60 ($2.04). 29,118,072 shares changed hands during mid-day trading, an increase of 1,257% from the average session volume of 2,146,250 shares. The stock had previously closed at GBX 177.80 ($2.41).

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on SQZ. JPMorgan Chase & Co. reiterated a "buy" rating and issued a GBX 215 price objective on shares of Serica Energy in a report on Wednesday, August 13th. Jefferies Financial Group reiterated a "buy" rating and issued a GBX 190 price objective on shares of Serica Energy in a report on Tuesday, August 5th. Canaccord Genuity Group reiterated a "buy" rating and issued a GBX 190 price objective on shares of Serica Energy in a report on Thursday, July 31st. Finally, Shore Capital reissued a "buy" rating on shares of Serica Energy in a research note on Wednesday, September 10th. Five analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has a consensus rating of "Buy" and an average target price of GBX 203.

Serica Energy Stock Down 0.2%

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 has a market capitalization of £624.06 million, a price-to-earnings ratio of -1,997.50, a price-to-earnings-growth ratio of 2.15 and a beta of 0.44. The firm's 50-day simple moving average is GBX 168.81 and its 200-day simple moving average is GBX 150.32.

Insider Transactions at Serica Energy

In related news, insider Martin Copeland bought 45,000 shares of the company's stock in a transaction on Thursday, July 3rd. The stock was bought at an average cost of GBX 161 per share, with a total value of £72,450. 63.80% of the stock is owned by corporate 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.