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

Key Points

• Serica Energy shares surged 14.6%, reaching GBX 197.40 ($2.65) after trading volumes increased by 154% compared to the average.
• Multiple brokerages, including Canaccord Genuity, JPMorgan Chase & Co., and Peel Hunt, have issued a "buy" rating with price targets ranging from GBX 190 to GBX 215.
• Insider transactions show that 63.80% of the stock is owned by corporate insiders, with the most recent acquisition being 45,000 shares by Martin Copeland at GBX 161 per share.

Shares of Serica Energy plc (LON:SQZ - Get Free Report) traded up 14.6% during trading on Tuesday . The company traded as high as GBX 198.80 ($2.67) and last traded at GBX 197.40 ($2.65). 5,177,625 shares changed hands during trading, an increase of 154% from the average session volume of 2,035,568 shares. The stock had previously closed at GBX 172.20 ($2.31).

Wall Street Analysts Forecast Growth

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

Serica Energy Stock Up 14.6%

The firm has a market cap of £770.90 million, a PE ratio of -2,467.50, a price-to-earnings-growth ratio of 2.15 and a beta of 0.44. The business has a 50-day moving average price of GBX 169.12 and a two-hundred day moving average price of GBX 153.32. 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 Transactions at Serica Energy

In related news, insider Martin Copeland acquired 45,000 shares of the firm's stock in a transaction dated Thursday, July 3rd. The stock was acquired at an average price of GBX 161 per share, for a total transaction of £72,450. 63.80% of the stock is 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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