Serica Energy (LON:SQZ) Trading 14.6% Higher - Time to Buy?

Key Points

• Serica Energy's stock price rose 14.6% on Tuesday, reaching as high as GBX 198.80 ($2.67), with a trading volume that was 154% above its average daily volume.
• Multiple analysts, including Peel Hunt and JPMorgan, have maintained a buy rating on Serica Energy, with a consensus target price of GBX 207.83.
• Insider Martin Copeland purchased 45,000 shares at an average price of GBX 161, indicating confidence in the company's prospects.

Serica Energy plc (LON:SQZ - Get Free Report)'s stock price was 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). Approximately 5,177,625 shares were traded during trading, an increase of 154% from the average daily volume of 2,035,568 shares. The stock had previously closed at GBX 172.20 ($2.32).

Wall Street Analysts Forecast Growth

SQZ has been the topic of a number of recent analyst reports. Peel Hunt restated a "buy" rating and set a GBX 207 price objective on shares of Serica Energy in a research report on Tuesday. Shore Capital reissued a "buy" rating on shares of Serica Energy in a research note on Wednesday, September 10th. JPMorgan Chase & Co. reiterated a "buy" rating and issued a GBX 215 price objective on shares of Serica Energy in a report on Wednesday, August 13th. Jefferies Financial Group reiterated a "buy" rating and set a GBX 190 price objective on shares of Serica Energy in a research note on Tuesday, August 5th. Finally, Canaccord Genuity Group restated a "buy" rating and issued a GBX 215 target price on shares of Serica Energy in a research report on Tuesday, September 16th. Six investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Serica Energy currently has an average rating of "Buy" and a consensus target price of GBX 207.83.

Serica Energy Trading Up 14.6%

The company has a 50 day moving average of GBX 169.78 and a 200-day moving average of GBX 153.62. The stock has a market cap 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. The company has a debt-to-equity ratio of 26.31, a quick ratio of 1.22 and a current ratio of 1.69.

Insider Transactions at Serica Energy

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