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

Key Points

• Serica Energy stock surged by 14.6%, reaching a last price of GBX 197.40 ($2.65) after significant trading volume, signaling increased investor interest.
• Multiple analysts have issued buy ratings on the stock, with a consensus target price of GBX 207.83, indicating strong market confidence in Serica Energy's potential.
• Insider Martin Copeland purchased 45,000 shares at an average price of GBX 161, highlighting insider confidence, as insiders own 63.80% of the company’s stock.

Serica Energy plc (LON:SQZ - Get Free Report) traded 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 Upgrades and Downgrades

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

Serica Energy Stock Up 2.7%

The stock 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 market cap of £791.44 million, a P/E ratio of -2,533.25, a P/E/G ratio of 2.15 and a beta of 0.44. The company has a debt-to-equity ratio of 26.31, a quick ratio of 1.22 and a current ratio of 1.69.

Insiders Place Their Bets

In related news, insider Martin Copeland acquired 45,000 shares of the stock in a transaction on Thursday, July 3rd. The stock was purchased 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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