Serica Energy (LON:SQZ) Trading Down 13.9% - Here's Why

Key Points

• Serica Energy's share price dropped by 13.9% to GBX 153.07 ($2.07) amid increased trading volume, which surged by 1,158% compared to the average session.
• Despite the recent decline, five research firms maintain a "buy" rating, with a consensus target price of GBX 203.
• Insider Martin Copeland purchased 45,000 shares at an average cost of GBX 161, indicating continued confidence in the company's prospects.

Serica Energy plc (LON:SQZ - Get Free Report)'s stock price was down 13.9% during trading on Wednesday . The stock traded as low as GBX 146 ($1.98) and last traded at GBX 153.07 ($2.08). Approximately 26,836,516 shares were traded during mid-day trading, an increase of 1,158% from the average daily volume of 2,133,212 shares. The stock had previously closed at GBX 177.80 ($2.41).

Analyst Upgrades and Downgrades

Several research analysts recently commented on SQZ shares. JPMorgan Chase & Co. reiterated a "buy" rating and issued a GBX 215 price target on shares of Serica Energy in a research note on Wednesday, August 13th. Jefferies Financial Group restated a "buy" rating and set a GBX 190 price objective on shares of Serica Energy in a research note on Tuesday, August 5th. Shore Capital reaffirmed a "buy" rating on shares of Serica Energy in a report on Wednesday, September 10th. Finally, Canaccord Genuity Group reaffirmed a "buy" rating and set a GBX 190 price target on shares of Serica Energy in a research note on Thursday, July 31st. Five research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Serica Energy currently has a consensus rating of "Buy" and a consensus price target of GBX 203.

Serica Energy Trading Down 0.2%

The firm has a market capitalization of £624.06 million, a price-to-earnings ratio of -1,997.50, a P/E/G ratio of 2.15 and a beta of 0.44. The business has a 50-day moving average of GBX 168.81 and a two-hundred day moving average of GBX 150.32. 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

In related 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 purchased at an average price of GBX 161 per share, for a total transaction of £72,450. Company 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.