Serica Energy (LON:SQZ) Stock Price Up 7.1% After Dividend Announcement

Serica Energy plc (LON:SQZ)’s share price was up 7.1% during trading on Wednesday following a dividend announcement from the company. The company traded as high as GBX 125.50 ($1.64) and last traded at GBX 123 ($1.61). Approximately 3,092,415 shares traded hands during mid-day trading, an increase of 71% from the average daily volume of 1,809,124 shares. The stock had previously closed at GBX 114.80 ($1.50).

The newly announced dividend which will be paid on Thursday, November 21st. Shareholders of record on Thursday, October 24th will be issued a dividend of GBX 9 ($0.12) per share. This represents a yield of 7.69%. The ex-dividend date of this dividend is Thursday, October 24th. Serica Energy’s dividend payout ratio (DPR) is currently 8,518.52%.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group restated a “buy” rating and set a GBX 225 ($2.94) price objective on shares of Serica Energy in a report on Tuesday, May 21st.

Serica Energy Stock Performance

The company’s fifty day simple moving average is GBX 129.28 and its 200 day simple moving average is GBX 161.13. The company has a quick ratio of 1.22, a current ratio of 2.19 and a debt-to-equity ratio of 32.79. The stock has a market capitalization of £480.27 million, a price-to-earnings ratio of 454.81, a P/E/G ratio of 2.15 and a beta of 0.44.

Insider Activity at Serica Energy

In other Serica Energy news, insider Martin Copeland bought 13,500 shares of the stock in a transaction dated Tuesday, September 10th. The shares were bought at an average cost of GBX 112 ($1.46) per share, with a total value of £15,120 ($19,772.46). In other news, insider Chris Cox acquired 12,530 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was acquired at an average price of GBX 136 ($1.78) per share, with a total value of £17,040.80 ($22,284.29). Also, insider Martin Copeland acquired 13,500 shares of Serica Energy stock in a transaction on Tuesday, September 10th. The shares were purchased at an average price of GBX 112 ($1.46) per share, for a total transaction of £15,120 ($19,772.46). Over the last three months, insiders have acquired 100,052 shares of company stock worth $6,065,602. Corporate insiders own 37.83% of the company’s stock.

Serica Energy Company Profile

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.