Serica Energy (LON:SQZ) Trading Down 14.5% - Here's Why

Key Points

• Serica Energy's stock declined by 14.5% in a single trading day, reaching a low of GBX 146 ($1.98) before recovering slightly to GBX 152 ($2.06).
• A positive consensus among analysts exists, with multiple firms issuing "buy" ratings and a consensus price target of GBX 203, suggesting potential for recovery.
• Insider transactions were noted, with Martin Copeland purchasing 45,000 shares, indicating confidence in the company's future prospects.

Serica Energy plc (LON:SQZ - Get Free Report) traded down 14.5% during trading on Wednesday . The company traded as low as GBX 146 ($1.98) and last traded at GBX 152 ($2.06). 9,339,462 shares were traded during mid-day trading, an increase of 359% from the average session volume of 2,033,229 shares. The stock had previously closed at GBX 177.80 ($2.41).

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on SQZ shares. Canaccord Genuity Group reaffirmed a "buy" rating and set a GBX 190 price target on shares of Serica Energy in a research report on Thursday, July 31st. Shore Capital reiterated a "buy" rating on shares of Serica Energy in a research report on Wednesday. JPMorgan Chase & Co. reissued a "buy" rating and set a GBX 215 price objective on shares of Serica Energy in a research note on Wednesday, August 13th. Finally, Jefferies Financial Group reiterated a "buy" rating and issued a GBX 190 price target on shares of Serica Energy in a research note on Tuesday, August 5th. Five analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of GBX 203.

Serica Energy Stock Down 14.5%

The company has a debt-to-equity ratio of 26.31, a current ratio of 1.69 and a quick ratio of 1.22. The stock has a market capitalization of £593.60 million, a P/E ratio of -1,900.00, a P/E/G ratio of 2.15 and a beta of 0.44. The firm has a 50-day simple moving average of GBX 169.15 and a 200 day simple moving average of GBX 149.57.

Insider Buying and Selling

In other Serica Energy news, insider Martin Copeland acquired 45,000 shares of the business's stock in a transaction dated Thursday, July 3rd. The shares were purchased at an average cost of GBX 161 per share, for a total transaction of £72,450. 63.80% of the stock is currently owned by corporate insiders.

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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