Serica Energy (LON:SQZ) Reaches New 1-Year High – Should You Buy?

Serica Energy plc (LON:SQZ) reached a new 52-week high during trading on Tuesday . The company traded as high as GBX 189 ($2.54) and last traded at GBX 188.50 ($2.53), with a volume of 3838929 shares. The stock had previously closed at GBX 172.20 ($2.31).

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Peel Hunt reiterated a “buy” rating and set a GBX 207 target price on shares of Serica Energy in a report on Tuesday. JPMorgan Chase & Co. reaffirmed a “buy” rating and issued a GBX 215 price objective on shares of Serica Energy in a research report on Wednesday, August 13th. Canaccord Genuity Group reissued a “buy” rating and set a GBX 215 price target on shares of Serica Energy in a research report on Tuesday, September 16th. Shore Capital reaffirmed a “buy” rating on shares of Serica Energy in a research note on Wednesday, September 10th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a GBX 190 price objective on shares of Serica Energy in a research note on Tuesday, August 5th. Six analysts have rated the stock with a Buy rating, According to MarketBeat, Serica Energy presently has a consensus rating of “Buy” and an average price target of GBX 207.83.

Serica Energy Stock Performance

The firm’s 50-day moving average price is GBX 169.12 and its two-hundred day moving average price is GBX 153.32. 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 has a market cap of £735.22 million, a price-to-earnings ratio of -2,353.30, a PEG ratio of 2.15 and a beta of 0.44.

Insider Buying and Selling at Serica Energy

In other news, insider Martin Copeland purchased 45,000 shares of the stock in a transaction dated Thursday, July 3rd. The shares were purchased at an average price of GBX 161 per share, with a total value of £72,450. Insiders own 63.80% 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.