Serica Energy (LON:SQZ) Shares Down 10.6% – What’s Next?

Serica Energy plc (LON:SQZ) shares traded down 10.6% on Thursday . The stock traded as low as GBX 182 ($2.43) and last traded at GBX 190.80 ($2.55). 6,142,699 shares were traded during mid-day trading, an increase of 195% from the average session volume of 2,085,658 shares. The stock had previously closed at GBX 213.50 ($2.85).

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Peel Hunt reissued a “buy” rating and issued a GBX 207 price objective on shares of Serica Energy in a report on Wednesday. Canaccord Genuity Group upped their price target on shares of Serica Energy from GBX 215 to GBX 240 and gave the company a “buy” rating in a research note on Friday, October 3rd. Jefferies Financial Group restated a “buy” rating and set a GBX 190 price target on shares of Serica Energy in a research note on Tuesday, August 5th. JPMorgan Chase & Co. reissued a “buy” rating and set a GBX 215 target price on shares of Serica Energy in a report on Wednesday, August 13th. Finally, Shore Capital reissued a “buy” rating and set a GBX 225 target price on shares of Serica Energy in a report on Wednesday. Six investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of GBX 212.83.

Serica Energy Stock Down 6.0%

The stock’s fifty day moving average is GBX 174.48 and its two-hundred day moving average is GBX 157.32. 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 firm has a market cap of £700.60 million, a P/E ratio of -2,242.50, a price-to-earnings-growth ratio of 2.15 and a beta of 0.44.

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.