Serica Energy (LON:SQZ) Trading 14.6% Higher - Should You Buy?

Key Points

• Serica Energy's share price increased by 14.6%, trading at GBX 197.40 ($2.65) during mid-day trading, with a volume surge of 154% from its average session.
• Equities analysts have issued multiple buy ratings for Serica Energy, with price targets ranging from GBX 190 to GBX 215, indicating strong market confidence.
• The company currently has a market capitalization of £770.90 million and insider ownership stands at 63.80%.

Serica Energy plc (LON:SQZ - Get Free Report)'s share price traded up 14.6% during mid-day 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).

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Shore Capital reissued a "buy" rating on shares of Serica Energy in a report on Wednesday, September 10th. 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. reissued a "buy" rating and issued a GBX 215 price target on shares of Serica Energy in a report on Wednesday, August 13th. 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. Finally, Canaccord Genuity Group reissued a "buy" rating and issued a GBX 215 price target on shares of Serica Energy in a report on Tuesday, September 16th. Six research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of GBX 207.83.

Serica Energy Price Performance

The firm has a market capitalization of £770.90 million, a P/E ratio of -2,467.50, a PEG 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. The business's 50-day simple moving average is GBX 169.12 and its 200 day simple moving average is GBX 153.32.

Insider Buying and Selling

In other Serica Energy news, insider Martin Copeland purchased 45,000 shares of the stock in a transaction on Thursday, July 3rd. The stock was acquired at an average cost of GBX 161 per share, with a total value of £72,450. 63.80% of the stock is currently owned by 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.

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