Serica Energy (LON:SQZ) Reaches New 52-Week High – Here’s Why

Serica Energy plc (LON:SQZ) 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 company. Panmure Gordon cut their target price on Serica Energy from GBX 270 to GBX 238 and set a “buy” rating on the stock in a research report on Tuesday, December 2nd. Shore Capital Group reissued a “buy” rating and issued a GBX 235 price target on shares of Serica Energy in a research note on Thursday, January 22nd. Finally, Canaccord Genuity Group boosted their price objective on Serica Energy from GBX 225 to GBX 230 and gave the stock a “buy” rating in a report on Thursday, January 22nd. Six investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of GBX 225.83.

Serica Energy Price Performance

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

Insider Transactions at Serica Energy

In related news, insider Chris Cox purchased 64,007 shares of the firm’s stock in a transaction dated Tuesday, December 16th. The stock was bought 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.