Serica Energy (LON:SQZ) Hits New 12-Month High – Time to Buy?

Serica Energy plc (LON:SQZ) shares reached a new 52-week high during 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 traded. The stock had previously closed at GBX 219.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Peel Hunt reiterated a “buy” rating and issued a GBX 207 target price on shares of Serica Energy in a research note on Tuesday, November 4th. Shore Capital Group restated a “buy” rating and issued a GBX 235 price target on shares of Serica Energy in a report on Thursday, January 22nd. Canaccord Genuity Group boosted 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. Jefferies Financial Group raised their target price on shares of Serica Energy from GBX 190 to GBX 230 and gave the company a “buy” rating in a research note on Monday, October 20th. Finally, Panmure Gordon cut their price target on shares of Serica Energy from GBX 270 to GBX 238 and set a “buy” rating on the stock in a report on Tuesday, December 2nd. Seven investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of GBX 222.14.

Serica Energy Stock Up 1.7%

The company’s 50-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 price-to-earnings-growth ratio of 2.15 and a beta of 0.44. The company has a current ratio of 1.69, a quick ratio of 1.22 and a debt-to-equity ratio of 26.31.

Insider Activity at Serica Energy

In related news, insider Chris Cox acquired 64,007 shares of the company’s stock in a transaction dated Tuesday, December 16th. The shares were 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.