Serica Energy (LON:SQZ) Trading Down 14.5% - Time to Sell?

Key Points

• Serica Energy's stock fell by 14.5% during mid-day trading, dropping to as low as GBX 146 ($1.98), with significant trading volume of over 9 million shares.
• Despite the drop, multiple analysts have maintained a buy rating for Serica Energy, with a consensus price target of GBX 203.
• Insider Martin Copeland recently purchased 45,000 shares of the company, indicating confidence in the stock at an average price of GBX 161 per share.

Serica Energy plc (LON:SQZ - Get Free Report) was down 14.5% during mid-day trading on Thursday . The stock traded as low as GBX 146 ($1.98) and last traded at GBX 152 ($2.06). Approximately 9,339,462 shares traded hands during mid-day trading, an increase of 359% from the average daily 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 research analysts recently issued reports on the company. Jefferies Financial Group restated a "buy" rating and set a GBX 190 price objective on shares of Serica Energy in a research report on Tuesday, August 5th. Canaccord Genuity Group reiterated a "buy" rating and issued a GBX 190 target price on shares of Serica Energy in a research note on Thursday, July 31st. JPMorgan Chase & Co. reissued a "buy" rating and set a GBX 215 price target on shares of Serica Energy in a report on Wednesday, August 13th. Finally, Shore Capital restated a "buy" rating on shares of Serica Energy in a research report on Wednesday. Five research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Serica Energy has a consensus rating of "Buy" and a consensus price target of GBX 203.

Serica Energy Stock 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 firm has a 50 day simple moving average of GBX 169.04 and a two-hundred day simple moving average of GBX 149.59. The stock has a market cap of £606.78 million, a P/E ratio of -1,942.20, a P/E/G ratio of 2.15 and a beta of 0.44.

Insider Buying and Selling at Serica Energy

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