Serica Energy (LON:SQZ) Stock Price Up 7.1% After Dividend Announcement

Shares of Serica Energy plc (LON:SQZ) traded up 7.1% during mid-day trading on Wednesday after the company announced a dividend. The company traded as high as GBX 125.50 ($1.64) and last traded at GBX 123 ($1.61). 3,092,415 shares traded hands during mid-day trading, an increase of 71% from the average session volume of 1,809,124 shares. The stock had previously closed at GBX 114.80 ($1.50).

The newly announced dividend which will be paid on Thursday, November 21st. Investors of record on Thursday, October 24th will be paid a GBX 9 ($0.12) dividend. This represents a dividend yield of 7.69%. The ex-dividend date is Thursday, October 24th. Serica Energy’s dividend payout ratio is currently 8,518.52%.

Analyst Ratings Changes

Separately, Jefferies Financial Group restated a “buy” rating and set a GBX 225 ($2.94) price target on shares of Serica Energy in a report on Tuesday, May 21st.

Serica Energy Trading Up 7.1 %

The company has a debt-to-equity ratio of 32.79, a current ratio of 2.19 and a quick ratio of 1.22. The firm has a market cap of £480.27 million, a price-to-earnings ratio of 454.81, a price-to-earnings-growth ratio of 2.15 and a beta of 0.44. The firm’s fifty day moving average is GBX 129.28 and its 200-day moving average is GBX 161.13.

Insiders Place Their Bets

In other Serica Energy news, insider Chris Cox bought 52,672 shares of the stock in a transaction on Friday, July 5th. The stock was acquired at an average cost of GBX 1 ($0.01) per share, for a total transaction of £526.72 ($688.79). In related news, insider Martin Copeland acquired 13,500 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were bought at an average price of GBX 112 ($1.46) per share, with a total value of £15,120 ($19,772.46). Also, insider Chris Cox bought 52,672 shares of Serica Energy stock in a transaction dated Friday, July 5th. The stock was purchased at an average price of GBX 1 ($0.01) per share, with a total value of £526.72 ($688.79). In the last ninety days, insiders acquired 100,052 shares of company stock worth $6,065,602. Company insiders own 37.83% of the company’s stock.

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.