Serica Energy (LON:SQZ) Stock Passes Below Two Hundred Day Moving Average – What’s Next?

Serica Energy plc (LON:SQZ)’s stock price passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 134.01 ($1.78) and traded as low as GBX 117.28 ($1.56). Serica Energy shares last traded at GBX 127 ($1.69), with a volume of 2,042,265 shares changing hands.

Analysts Set New Price Targets

SQZ has been the subject of several research reports. Berenberg Bank restated a “buy” rating and issued a GBX 200 ($2.66) price objective on shares of Serica Energy in a report on Tuesday, February 18th. Canaccord Genuity Group reissued a “buy” rating and issued a GBX 200 ($2.66) price target on shares of Serica Energy in a research note on Thursday, January 23rd.

Serica Energy Stock Performance

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 cap of £625.88 million, a P/E ratio of -87.53, a P/E/G ratio of 2.15 and a beta of 0.44. The business has a fifty day simple moving average of GBX 127.61 and a 200-day simple moving average of GBX 134.01.

Serica Energy (LON:SQZ) last issued its quarterly 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%. On average, sell-side analysts predict that Serica Energy plc will post 30.373444 EPS for the current fiscal year.

Serica Energy Increases Dividend

The business also recently declared a dividend, which was paid on Monday, April 14th. Investors of record on Thursday, April 10th were paid a GBX 10 ($0.13) dividend. The ex-dividend date of this dividend was Thursday, April 10th. This represents a dividend yield of 7.45%. This is an increase from Serica Energy’s previous dividend of $9.00. Serica Energy’s dividend payout ratio is presently -1,585.15%.

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.