Serica Energy (LON:SQZ) Reaches New 12-Month High – Should You Buy?

Serica Energy plc (LON:SQZ)’s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as GBX 282.73 and last traded at GBX 282.73, with a volume of 679681 shares traded. The stock had previously closed at GBX 267.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Canaccord Genuity Group upped their target price on shares of Serica Energy from GBX 225 to GBX 230 and gave the company a “buy” rating in a research note on Thursday, January 22nd. Panmure Gordon decreased their price target on Serica Energy from GBX 270 to GBX 238 and set a “buy” rating for the company in a research note on Tuesday, December 2nd. Finally, Shore Capital Group reissued a “buy” rating and issued a GBX 235 price objective on shares of Serica Energy in a report on Thursday, January 22nd. Six equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of GBX 225.83.

Serica Energy Stock Up 5.9%

The stock’s 50-day moving average is GBX 219.94 and its 200-day moving average is GBX 197.01. The stock has a market cap of £1.10 billion, a P/E ratio of -35.34, a price-to-earnings-growth ratio of 2.15 and a beta of 0.05. The company has a current ratio of 1.72, a quick ratio of 1.22 and a debt-to-equity ratio of 31.14.

Insider Buying and Selling at Serica Energy

In other Serica Energy news, insider Chris Cox acquired 64,007 shares of the stock in a transaction dated Tuesday, December 16th. The shares were bought at an average price of GBX 170 per share, with a total value of £108,811.90. Company 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.