Serica Energy (LON:SQZ) Stock Price Crosses Above 200-Day Moving Average – Here’s Why

Serica Energy plc (LON:SQZ)’s stock price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of GBX 147.56 ($1.99) and traded as high as GBX 181.80 ($2.45). Serica Energy shares last traded at GBX 180 ($2.43), with a volume of 1,487,286 shares trading hands.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. JPMorgan Chase & Co. reissued a “buy” rating and issued a GBX 215 target price on shares of Serica Energy in a report on Wednesday, August 13th. Shore Capital reiterated a “buy” rating on shares of Serica Energy in a research note on Friday, August 22nd. Canaccord Genuity Group reiterated a “buy” rating and set a GBX 190 price target on shares of Serica Energy in a research note on Thursday, July 31st. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a GBX 190 price objective on shares of Serica Energy in a research note on Tuesday, August 5th. Five 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 203.

Serica Energy Stock Up 0.9%

The business’s fifty day moving average price is GBX 167.29 and its 200 day moving average price is GBX 147.55. 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 firm has a market capitalization of £702.95 million, a PE ratio of 782.61, a PEG ratio of 2.15 and a beta of 0.44.

Insider Activity

In other news, insider Martin Copeland purchased 45,000 shares of the company’s stock in a transaction dated Thursday, July 3rd. The shares were acquired at an average cost of GBX 161 per share, for a total transaction of £72,450. 63.80% of the stock is currently owned by company insiders.

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.