Serica Energy (LON:SQZ) Trading Down 14.5% - Should You Sell?

Key Points

• Serica Energy's stock price dropped by 14.5%, closing at GBX 152 ($2.06) after trading as low as GBX 146 ($1.98) amidst a substantial increase in trading volume.
• Despite the recent drop, multiple analysts, including Jefferies and JPMorgan, have reaffirmed a buy rating for Serica Energy, with the average target price set at GBX 203.
• Insider Martin Copeland purchased 45,000 shares at an average price of GBX 161, reflecting confidence in the company's prospects, as corporate insiders hold 63.80% of the stock.

Serica Energy plc (LON:SQZ - Get Free Report)'s stock price fell 14.5% during mid-day trading on Thursday . The company traded as low as GBX 146 ($1.98) and last traded at GBX 152 ($2.06). 9,339,462 shares traded hands 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

SQZ has been the subject of several analyst reports. Jefferies Financial Group reissued a "buy" rating and set a GBX 190 price target on shares of Serica Energy in a research report on Tuesday, August 5th. 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 reissued a "buy" rating on shares of Serica Energy in a research report on Wednesday. Finally, JPMorgan Chase & Co. reaffirmed a "buy" rating and set a GBX 215 target price on shares of Serica Energy in a research report on Wednesday, August 13th. Five research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Serica Energy currently has an average rating of "Buy" and a consensus target price of GBX 203.

Serica Energy Trading Up 2.2%

The company has a debt-to-equity ratio of 26.31, a quick ratio of 1.22 and a current ratio of 1.69. The company has a market cap of £606.78 million, a price-to-earnings ratio of -1,942.20, a P/E/G ratio of 2.15 and a beta of 0.44. The company's fifty day moving average is GBX 169.04 and its two-hundred day moving average is GBX 149.59.

Insider Transactions at Serica Energy

In other Serica Energy news, insider Martin Copeland bought 45,000 shares of the firm's stock in a transaction that occurred on Thursday, July 3rd. The stock was bought at an average cost of GBX 161 per share, for a total transaction of £72,450. 63.80% of the stock is owned by corporate 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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