Serica Energy (LON:SQZ) Sets New 52-Week High – Still a Buy?

Serica Energy plc (LON:SQZ) shares reached a new 52-week high on Tuesday . The stock traded as high as GBX 224.50 and last traded at GBX 223.45, with a volume of 645429 shares traded. The stock had previously closed at GBX 219.

Analyst Ratings Changes

Several research analysts recently commented on SQZ shares. Peel Hunt reaffirmed a “buy” rating and issued a GBX 207 price objective on shares of Serica Energy in a report on Tuesday, November 4th. Canaccord Genuity Group boosted their price objective on 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 reissued a “buy” rating and set a GBX 235 price objective on shares of Serica Energy in a report on Thursday, January 22nd. Finally, Panmure Gordon reduced their target price on Serica Energy from GBX 270 to GBX 238 and set a “buy” rating for the company in a report on Tuesday, December 2nd. Six investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of GBX 225.83.

Serica Energy Stock Performance

The firm has a market capitalization of £896.92 million, a PE ratio of -28.71, a PEG ratio of 2.15 and a beta of 0.44. The company has a quick ratio of 1.22, a current ratio of 1.69 and a debt-to-equity ratio of 26.31. The company has a 50-day moving average of GBX 192.46 and a 200 day moving average of GBX 186.90.

Insider Buying and Selling at Serica Energy

In related news, insider Chris Cox bought 64,007 shares of the stock in a transaction that occurred on Tuesday, December 16th. The shares were acquired at an average cost of GBX 170 per share, with a total value of £108,811.90. Company insiders own 63.82% 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. 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.