Serica Energy (LON:SQZ) Trading Up 14.6% - Still a Buy?

Key Points

• Serica Energy's stock surged 14.6% during mid-day trading, reaching a high of GBX 198.80 ($2.67) with a significant trading volume increase of 154% from its average.
• Multiple analysts have issued a "buy" rating for Serica Energy, with price targets ranging from GBX 190 to 215, indicating strong confidence in the company's stock performance.
• Insider Martin Copeland purchased 45,000 shares at an average cost of GBX 161 per share, signaling confidence from management as insiders own 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 were traded 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

Several research analysts have weighed in on the company. Shore Capital restated a "buy" rating on shares of Serica Energy in a research note on Wednesday, September 10th. JPMorgan Chase & Co. restated a "buy" rating and issued a GBX 215 price target on shares of Serica Energy in a research note on Wednesday, August 13th. Peel Hunt restated a "buy" rating and issued a GBX 207 price target on shares of Serica Energy in a research note on Tuesday. Jefferies Financial Group restated a "buy" rating and issued a GBX 190 price target on shares of Serica Energy in a research note on Tuesday, August 5th. Finally, Canaccord Genuity Group restated a "buy" rating and issued a GBX 215 price target on shares of Serica Energy in a research note on Tuesday, September 16th. Six equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of GBX 207.83.

Serica Energy Stock Up 14.6%

The firm has a market capitalization of £770.90 million, a PE ratio of -2,467.50, a PEG ratio of 2.15 and a beta of 0.44. The company has a fifty day moving average price of GBX 169.12 and a 200-day moving average price of GBX 153.32. The company has a debt-to-equity ratio of 26.31, a quick ratio of 1.22 and a current ratio of 1.69.

Insider Activity

In other news, insider Martin Copeland acquired 45,000 shares of the firm's stock in a transaction dated Thursday, July 3rd. The shares were 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 company 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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