Serica Energy (LON:SQZ) Shares Down 13.9% – Should You Sell?

Shares of Serica Energy plc (LON:SQZ) fell 13.9% during trading on Wednesday . The company traded as low as GBX 146 ($1.98) and last traded at GBX 153.07 ($2.08). 26,836,516 shares changed hands during trading, an increase of 1,158% from the average session volume of 2,133,212 shares. The stock had previously closed at GBX 177.80 ($2.41).

Analyst Ratings Changes

A number of research firms recently commented on SQZ. Canaccord Genuity Group reissued a “buy” rating and set a GBX 190 price objective on shares of Serica Energy in a report on Thursday, July 31st. Jefferies Financial Group reissued a “buy” rating and set a GBX 190 price objective on shares of Serica Energy in a report on Tuesday, August 5th. JPMorgan Chase & Co. reissued a “buy” rating and set a GBX 215 price objective on shares of Serica Energy in a report on Wednesday, August 13th. Finally, Shore Capital reissued a “buy” rating on shares of Serica Energy in a report on Wednesday. Five research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of GBX 203.

Serica Energy Trading Up 3.8%

The company has a debt-to-equity ratio of 26.31, a current ratio of 1.69 and a quick ratio of 1.22. The company has a market cap of £615.16 million, a price-to-earnings ratio of -1,969.00, a PEG ratio of 2.15 and a beta of 0.44. The business’s 50-day simple moving average is GBX 168.84 and its 200-day simple moving average is GBX 149.76.

Insider Transactions at Serica Energy

In other Serica Energy news, insider Martin Copeland bought 45,000 shares of the business’s stock in a transaction on Thursday, July 3rd. The stock was bought at an average price of GBX 161 per share, for a total transaction of £72,450. Insiders own 63.80% of the company’s stock.

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.