Serica Energy (LON:SQZ) Hits New 1-Year High – What’s Next?

Serica Energy plc (LON:SQZ)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as GBX 224.50 and last traded at GBX 223.45, with a volume of 645429 shares. The stock had previously closed at GBX 219.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Panmure Gordon dropped 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. Canaccord Genuity Group increased their price objective on shares of Serica Energy from GBX 225 to GBX 230 and gave the stock a “buy” rating in a research note on Thursday, January 22nd. Peel Hunt restated a “buy” rating and set a GBX 207 target price on shares of Serica Energy in a research report on Tuesday, November 4th. Shore Capital Group reaffirmed a “buy” rating and issued a GBX 235 price target on shares of Serica Energy in a report on Thursday, January 22nd. Finally, Jefferies Financial Group increased their price target on Serica Energy from GBX 190 to GBX 230 and gave the stock a “buy” rating in a research report on Monday, October 20th. Seven research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of GBX 222.14.

Serica Energy Price Performance

The stock’s fifty day moving average is GBX 190.52 and its 200-day moving average is GBX 186.28. The stock has a market capitalization of £869.97 million, a PE ratio of -27.85, a P/E/G ratio of 2.15 and a beta of 0.44. The company has a debt-to-equity ratio of 26.31, a current ratio of 1.69 and a quick ratio of 1.22.

Insider Activity

In other Serica Energy news, insider Chris Cox purchased 64,007 shares of the business’s stock in a transaction that occurred on Tuesday, December 16th. The stock was purchased at an average price of GBX 170 per share, for a total transaction of £108,811.90. 63.82% of the stock is currently owned by 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. 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.