Serica Energy (LON:SQZ) Trading 14.6% Higher - Here's Why

Key Points

• Serica Energy's share price increased by 14.6%, trading at GBX 197.40 ($2.65), with a significant increase in trading volume reaching over 5 million shares.
• Several brokerages, including Peel Hunt and Canaccord Genuity, have maintained a "buy" rating with price targets between GBX 190 and GBX 215.
• Insider Martin Copeland purchased 45,000 shares at an average price of GBX 161, indicating strong confidence from company executives.

Serica Energy plc (LON:SQZ - Get Free Report) traded up 14.6% during trading on Tuesday . The company 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 ($2.31).

Analyst Ratings Changes

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

Serica Energy Trading Up 14.6%

The stock has a market cap of £770.90 million, a P/E ratio of -2,467.50, a P/E/G 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 company has a 50-day moving average price of GBX 169.12 and a two-hundred day moving average price of GBX 153.32.

Insider Buying and Selling at Serica Energy

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