Serica Energy (LON:SQZ) Trading Up 8.4% - Time to Buy?

Serica Energy plc (LON:SQZ - Get Free Report) shot up 8.4% during mid-day trading on Wednesday . The company traded as high as GBX 147 ($1.89) and last traded at GBX 145.20 ($1.87). 3,347,482 shares traded hands during mid-day trading, an increase of 33% from the average session volume of 2,514,716 shares. The stock had previously closed at GBX 134 ($1.73).

Analyst Upgrades and Downgrades

A number of research firms have issued reports on SQZ. Canaccord Genuity Group reiterated a "buy" rating and issued a GBX 200 ($2.58) target price on shares of Serica Energy in a research report on Thursday, January 23rd. Berenberg Bank reiterated a "buy" rating and set a GBX 200 ($2.58) price target on shares of Serica Energy in a report on Tuesday, February 18th.

Serica Energy Stock Down 7.5 %

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 business has a 50-day simple moving average of GBX 134.35 and a two-hundred day simple moving average of GBX 136.54. The stock has a market capitalization of £612.09 million, a P/E ratio of -85.60, a PEG ratio of 2.15 and a beta of 0.44.

Serica Energy (LON:SQZ - Get Free Report) last issued its quarterly earnings data on Tuesday, April 1st. The company reported GBX 0.24 ($0.00) EPS for the quarter. Serica Energy had a negative net margin of 1.09% and a negative return on equity of 1.09%. Equities research analysts forecast that Serica Energy plc will post 30.373444 earnings per share for the current fiscal year.

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Serica Energy Increases Dividend

The firm also recently announced a dividend, which will be paid on Friday, July 25th. Shareholders of record on Thursday, June 26th will be issued a dividend of GBX 10 ($0.13) per share. This represents a yield of 7.45%. The ex-dividend date is Thursday, June 26th. This is a positive change from Serica Energy's previous dividend of $9.00. Serica Energy's payout ratio is currently -1,585.15%.

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.