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

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

Analysts Set New Price Targets

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

Serica Energy Stock Up 5.5%

The stock’s fifty day moving average is GBX 168.81 and its two-hundred day moving average is GBX 149.99. The company has a current ratio of 1.69, a quick ratio of 1.22 and a debt-to-equity ratio of 26.31. The company has a market capitalization of £625.62 million, a PE ratio of -2,002.50, a P/E/G ratio of 2.15 and a beta of 0.44.

Insider Buying and Selling

In other Serica Energy news, insider Martin Copeland acquired 45,000 shares of the company’s stock in a transaction on Thursday, July 3rd. The shares were acquired at an average cost of GBX 161 per share, with a total value of £72,450. 63.80% of the stock is currently owned by company insiders.

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.