Serica Energy (LON:SQZ) Trading Up 14.6% - Here's What Happened

Key Points

• Serica Energy's stock surged by 14.6% during mid-day trading, reaching a high of GBX 198.80 ($2.67) and trading volume of approximately 5.2 million shares, significantly above its average daily volume.
• Research analysts are optimistic about Serica Energy, with multiple firms, including Peel Hunt and JPMorgan Chase, reaffirming a "buy" rating and setting price targets between GBX 207 and GBX 215.
• Insider Martin Copeland purchased 45,000 shares of Serica Energy at an average cost of GBX 161, indicating confidence among corporate insiders as they hold 63.80% of the stock.

Serica Energy plc (LON:SQZ - Get Free Report)'s stock price was up 14.6% during mid-day 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 changed hands 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 ($2.31).

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on SQZ shares. Peel Hunt restated a "buy" rating and set a GBX 207 price target on shares of Serica Energy in a research note on Tuesday. JPMorgan Chase & Co. reaffirmed a "buy" rating and set a GBX 215 price objective on shares of Serica Energy in a research report on Wednesday, August 13th. Shore Capital reaffirmed a "buy" rating on shares of Serica Energy in a research report on Wednesday, September 10th. Jefferies Financial Group reaffirmed a "buy" rating and set a GBX 190 price objective on shares of Serica Energy in a research report on Tuesday, August 5th. Finally, Canaccord Genuity Group reaffirmed a "buy" rating and set a GBX 215 price objective on shares of Serica Energy in a research report on Tuesday, September 16th. Six analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Serica Energy presently has a consensus rating of "Buy" and a consensus target price of GBX 207.83.

Serica Energy Stock Up 14.6%

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 fifty day moving average price of GBX 169.12 and a 200 day moving average price of GBX 153.32. The firm has a market capitalization of £770.90 million, a price-to-earnings ratio of -2,467.50, a PEG ratio of 2.15 and a beta of 0.44.

Insider Activity at Serica Energy

In other Serica Energy news, insider Martin Copeland purchased 45,000 shares of Serica Energy stock in a transaction dated Thursday, July 3rd. The stock was acquired at an average cost of GBX 161 per share, with a total value 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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