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

Key Points

• Serica Energy's stock price surged 14.6% in a single trading day, reaching as high as GBX 198.80 ($2.67) on increased trading volume.
• Several brokerages have reiterated a "buy" rating on Serica Energy, with target prices ranging from GBX 190 to GBX 215, reflecting positive market sentiment.
• Insider Martin Copeland purchased 45,000 shares at GBX 161, indicating confidence in the company's prospects, as insiders hold 63.80% of the stock.

Serica Energy plc (LON:SQZ - Get Free Report) traded up 14.6% during trading 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 changed hands 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 ($2.32).

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on SQZ. Peel Hunt restated a "buy" rating and set a GBX 207 target price on shares of Serica Energy in a report on Tuesday. Jefferies Financial Group reiterated a "buy" rating and issued a GBX 190 target price on shares of Serica Energy in a research note on Tuesday, August 5th. Canaccord Genuity Group reissued a "buy" rating and set a GBX 215 price target on shares of Serica Energy in a research report on Tuesday, September 16th. Shore Capital reaffirmed a "buy" rating on shares of Serica Energy in a research report on Wednesday, September 10th. Finally, JPMorgan Chase & Co. reissued a "buy" rating and set a GBX 215 target price on shares of Serica Energy in a report on Wednesday, August 13th. Six analysts have rated the stock with a Buy rating, According to MarketBeat, Serica Energy presently has a consensus rating of "Buy" and an average target price of GBX 207.83.

Serica Energy Stock Up 14.6%

The firm has a 50 day moving average of GBX 169.78 and a two-hundred day moving average of GBX 153.62. The company has a quick ratio of 1.22, a current ratio of 1.69 and a debt-to-equity ratio of 26.31. The firm has a market capitalization of £770.90 million, a price-to-earnings ratio of -2,467.50, a price-to-earnings-growth ratio of 2.15 and a beta of 0.44.

Insider Buying and Selling

In related news, insider Martin Copeland purchased 45,000 shares of the firm's stock in a transaction dated Thursday, July 3rd. The stock was bought at an average price of GBX 161 per share, with a total value of £72,450. Insiders own 63.80% of the company's stock.

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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