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

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

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on SQZ. Canaccord Genuity Group raised their price target on shares of Serica Energy from GBX 225 to GBX 230 and gave the company a “buy” rating in a report on Thursday, January 22nd. Shore Capital Group restated a “buy” rating and set a GBX 235 target price on shares of Serica Energy in a report 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, Peel Hunt reissued a “buy” rating and set a GBX 207 price objective on shares of Serica Energy in a report on Tuesday, November 4th. Six research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of GBX 225.83.

Serica Energy Stock Performance

The company has a debt-to-equity ratio of 26.31, a quick ratio of 1.22 and a current ratio of 1.69. The stock’s 50-day simple moving average is GBX 196.57 and its two-hundred day simple moving average is GBX 188.49. The stock has a market cap of £919.69 million, a price-to-earnings ratio of -29.44, a price-to-earnings-growth ratio of 2.15 and a beta of 0.44.

Insider Buying and Selling at Serica Energy

In other Serica Energy news, insider Chris Cox bought 64,007 shares of the firm’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. Corporate 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.