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

Serica Energy plc (LON:SQZ - Get Free Report) traded up 8.4% during mid-day trading on Tuesday . The stock traded as high as GBX 147 ($1.90) and last traded at GBX 145.20 ($1.87). 3,347,482 shares were traded during 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).

Analysts Set New Price Targets

SQZ has been the subject of several recent analyst reports. Berenberg Bank reiterated a "buy" rating and issued a GBX 200 ($2.58) target price on shares of Serica Energy in a report on Tuesday, February 18th. Canaccord Genuity Group reiterated a "buy" rating and set a GBX 200 ($2.58) price objective on shares of Serica Energy in a research report on Thursday, January 23rd.

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 firm has a market capitalization of £612.09 million, a PE ratio of -85.60, a price-to-earnings-growth ratio of 2.15 and a beta of 0.44. The business's 50-day moving average price is GBX 134.35 and its 200-day moving average price is GBX 136.52.

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

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Serica Energy Increases Dividend

The company also recently disclosed a dividend, which will be paid on Friday, July 25th. Investors of record on Thursday, June 26th will be issued a dividend of GBX 10 ($0.13) per share. This is an increase from Serica Energy's previous dividend of $9.00. This represents a dividend yield of 7.45%. The ex-dividend date of this dividend is Thursday, June 26th. Serica Energy's dividend 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.