Serica Energy (LON:SQZ) Stock Crosses Above Two Hundred Day Moving Average - Here's Why

Key Points

• Serica Energy plc shares have surpassed their 200-day moving average, closing at GBX 180 ($2.43) on Friday, with a highest trading point of GBX 181.80 ($2.45).
• Several analysts, including Canaccord Genuity and JPMorgan Chase, have maintained a "buy" rating for Serica Energy with price targets ranging from GBX 190 to GBX 215, highlighting a positive outlook.
• Insider Martin Copeland acquired 45,000 shares in July at an average price of GBX 161, reflecting strong insider confidence, with corporate insiders owning 63.80% of the company's stock.

Serica Energy plc (LON:SQZ - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 147.56 ($1.98) and traded as high as GBX 181.80 ($2.44). Serica Energy shares last traded at GBX 180 ($2.41), with a volume of 1,487,286 shares trading hands.

Wall Street Analyst Weigh In

SQZ has been the subject of a number of recent analyst reports. Canaccord Genuity Group restated a "buy" rating and set a GBX 190 price objective on shares of Serica Energy in a research note on Thursday, July 31st. Jefferies Financial Group reaffirmed a "buy" rating and issued a GBX 190 price target on shares of Serica Energy in a 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. Finally, Shore Capital restated a "buy" rating on shares of Serica Energy in a research note on Friday, August 22nd. Five research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of GBX 203.

Serica Energy Stock Down 1.3%

The stock has a market cap of £699.82 million, a P/E ratio of 779.13, a price-to-earnings-growth ratio of 2.15 and a beta of 0.44. The company has a current ratio of 1.69, a quick ratio of 1.22 and a debt-to-equity ratio of 26.31. The stock's 50-day moving average is GBX 167.34 and its 200-day moving average is GBX 147.82.

Insider Buying and Selling

In related news, insider Martin Copeland bought 45,000 shares of the firm's stock in a transaction that occurred on Thursday, July 3rd. The shares were acquired 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 corporate 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.