Serica Energy (LON:SQZ) Sets New 1-Year High – Time to Buy?

Serica Energy plc (LON:SQZ)’s share price hit a new 52-week high on Monday . The company traded as high as GBX 261 and last traded at GBX 261, with a volume of 2559919 shares traded. The stock had previously closed at GBX 241.50.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Shore Capital Group restated a “buy” rating and set a GBX 235 target price on shares of Serica Energy in a research report on Thursday, January 22nd. Canaccord Genuity Group raised their price objective on Serica Energy from GBX 225 to GBX 230 and gave the company a “buy” rating in a report on Thursday, January 22nd. Peel Hunt restated a “buy” rating and issued a GBX 207 price objective on shares of Serica Energy in a research report on Tuesday, November 4th. Finally, Panmure Gordon decreased their target price on Serica Energy from GBX 270 to GBX 238 and set a “buy” rating on the stock in a research report on Tuesday, December 2nd. Six equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Serica Energy presently has a consensus rating of “Buy” and an average target price of GBX 225.83.

Serica Energy Trading Down 7.8%

The company has a 50 day simple moving average of GBX 205.88 and a 200 day simple moving average of GBX 191.94. The company has a market capitalization of £1.01 billion, a PE ratio of -32.38, a price-to-earnings-growth ratio of 2.15 and a beta of 0.00. The company has a debt-to-equity ratio of 31.14, a quick ratio of 1.22 and a current ratio of 1.72.

Insider Activity at Serica Energy

In other news, insider Chris Cox acquired 64,007 shares of Serica Energy stock in a transaction that occurred on Tuesday, December 16th. The stock was purchased at an average cost of GBX 170 per share, with a total value of £108,811.90. Insiders own 63.82% of the company’s stock.

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. It also has 50% interest in the Columbus development; and 20% interest in the Skerryvore and Ruvaal prospects located in Central North Sea, as well as 100% interest in the North and South Eigg exploration prospects located in the Northern North Sea.