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

Key Points

• Shares of Serica Energy rose 14.6% during trading, reaching a last traded price of GBX 197.40 ($2.65) after closing at GBX 172.20 ($2.32).
• Brokerages such as Shore Capital and Jefferies have reaffirmed a "buy" rating on Serica Energy, with an average price target of GBX 207.83.
• Insider Martin Copeland purchased 45,000 shares at £72,450, indicating confidence in the company as insiders hold 63.80% of the stock.

Shares of Serica Energy plc (LON:SQZ - Get Free Report) shot up 14.6% during trading on Wednesday . The stock traded as high as GBX 198.80 ($2.67) and last traded at GBX 197.40 ($2.65). 5,177,625 shares traded hands during 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).

Analyst Ratings Changes

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

Serica Energy Stock Up 2.7%

The firm's 50 day simple moving average is GBX 169.78 and its 200 day simple moving average is GBX 153.62. The company has a market cap of £791.44 million, a price-to-earnings ratio of -2,533.25, a price-to-earnings-growth ratio of 2.15 and a beta of 0.44. The company has a quick ratio of 1.22, a current ratio of 1.69 and a debt-to-equity ratio of 26.31.

Insider Activity at Serica Energy

In other news, insider Martin Copeland purchased 45,000 shares of the company's stock in a transaction on Thursday, July 3rd. The shares were bought at an average price of GBX 161 per share, for a total transaction of £72,450. 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.

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