Serica Energy (LON:SQZ) Stock Price Down 14.5% – What’s Next?

Serica Energy plc (LON:SQZ) shares fell 14.5% on Thursday . The company traded as low as GBX 146 ($1.98) and last traded at GBX 152 ($2.06). 9,339,462 shares changed hands during trading, an increase of 359% from the average session volume of 2,033,229 shares. The stock had previously closed at GBX 177.80 ($2.41).

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Jefferies Financial Group reissued a “buy” rating and issued a GBX 190 target price on shares of Serica Energy in a research report on Tuesday, August 5th. Shore Capital reissued a “buy” rating on shares of Serica Energy in a report on Wednesday. JPMorgan Chase & Co. restated a “buy” rating and issued a GBX 215 price objective on shares of Serica Energy in a research note on Wednesday, August 13th. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a GBX 190 target price on shares of Serica Energy in a research report on Thursday, July 31st. Five investment analysts have rated the stock with a Buy rating, According to MarketBeat, Serica Energy currently has an average rating of “Buy” and an average target price of GBX 203.

Serica Energy Price Performance

The firm has a 50-day simple moving average of GBX 169.04 and a two-hundred day simple moving average of GBX 149.59. The company has a market capitalization of £606.78 million, a price-to-earnings ratio of -1,942.20, a P/E/G ratio of 2.15 and a beta of 0.44. The company has a current ratio of 1.69, a quick ratio of 1.22 and a debt-to-equity ratio of 26.31.

Insider Activity at Serica Energy

In related news, insider Martin Copeland purchased 45,000 shares of Serica Energy stock in a transaction that occurred on Thursday, July 3rd. The stock was bought at an average cost of GBX 161 per share, for a total transaction of £72,450. 63.80% of the stock is owned by 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.