Serica Energy (LON:SQZ) Trading Up 14.6% - Time to Buy?

Key Points

• Serica Energy's stock surged by 14.6% on Tuesday, with shares reaching a high of GBX 198.80 ($2.67) and a closing price of GBX 197.40 ($2.65).
• Multiple analysts have issued a buy rating on the stock, with target prices ranging from GBX 190 to GBX 215, resulting in a consensus target price of GBX 207.83.
• Insider Martin Copeland purchased 45,000 shares at GBX 161 each, indicating confidence in the company's prospects, which is supported by insiders owning 63.80% of the stock.

Serica Energy plc (LON:SQZ - Get Free Report) shares traded up 14.6% during trading on Tuesday . The stock 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 ($2.32).

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. Jefferies Financial Group restated a "buy" rating and set a GBX 190 price target on shares of Serica Energy in a report on Tuesday, August 5th. JPMorgan Chase & Co. reissued a "buy" rating and set a GBX 215 target price 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. Canaccord Genuity Group reiterated a "buy" rating and set a GBX 215 price target on shares of Serica Energy in a research note on Tuesday, September 16th. Finally, Peel Hunt reiterated a "buy" rating and set a GBX 207 price target on shares of Serica Energy in a report on Tuesday. Six research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of GBX 207.83.

Serica Energy Stock Up 3.1%

The company has a current ratio of 1.69, a quick ratio of 1.22 and a debt-to-equity ratio of 26.31. The firm has a market cap of £794.72 million, a price-to-earnings ratio of -2,543.75, a PEG ratio of 2.15 and a beta of 0.44. The firm has a 50-day moving average of GBX 169.78 and a two-hundred day moving average of GBX 153.62.

Insider Buying and Selling

In other Serica Energy news, insider Martin Copeland purchased 45,000 shares of the business's stock in a transaction dated 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 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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