Serica Energy (LON:SQZ) Hits New 1-Year High – Here’s Why

Serica Energy plc (LON:SQZ) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as GBX 235.50 and last traded at GBX 234.86, with a volume of 652438 shares traded. The stock had previously closed at GBX 229.50.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on SQZ shares. 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 report on Tuesday, December 2nd. Canaccord Genuity Group upped their price objective 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. Shore Capital Group reiterated a “buy” rating and issued a GBX 235 target price on shares of Serica Energy in a report on Thursday, January 22nd. Finally, Peel Hunt restated a “buy” rating and set a GBX 207 price target on shares of Serica Energy in a report on Tuesday, November 4th. Six investment analysts have rated the stock with a Buy rating, According to MarketBeat, Serica Energy has an average rating of “Buy” and a consensus price target of GBX 225.83.

Serica Energy Stock Up 2.6%

The business has a fifty day moving average price of GBX 196.57 and a two-hundred day moving average price of GBX 188.49. 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 company has a market cap of £919.69 million, a price-to-earnings ratio of -29.44, a P/E/G ratio of 2.15 and a beta of 0.44.

Insider Transactions at Serica Energy

In related news, insider Chris Cox bought 64,007 shares of the firm’s stock in a transaction on Tuesday, December 16th. The stock was bought at an average price of GBX 170 per share, with a total value 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.