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

Serica Energy plc (LON:SQZ)’s stock price reached a new 52-week high on Monday . The stock traded as high as GBX 261 and last traded at GBX 261, with a volume of 2559919 shares changing hands. The stock had previously closed at GBX 241.50.

Analysts Set New Price Targets

SQZ has been the subject of several recent analyst reports. Panmure Gordon dropped their price objective on shares of Serica Energy from GBX 270 to GBX 238 and set a “buy” rating for the company in a research note on Tuesday, December 2nd. Peel Hunt reaffirmed a “buy” rating and set a GBX 207 price target on shares of Serica Energy in a research note on Tuesday, November 4th. Canaccord Genuity Group upped 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. Finally, Shore Capital Group reissued a “buy” rating and set a GBX 235 price target on shares of Serica Energy in a research note on Thursday, January 22nd. Six analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of GBX 225.83.

Serica Energy Stock Up 8.1%

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 market cap of £1.02 billion, a P/E ratio of -32.63, a P/E/G ratio of 2.15 and a beta of 0.44. The business’s 50 day moving average is GBX 201.94 and its 200 day moving average is GBX 190.49.

Insiders Place Their Bets

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

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.