Serica Energy (LON:SQZ) Stock Price Down 10.9% – What’s Next?

Serica Energy plc (LON:SQZ) shares traded down 10.9% during mid-day trading on Wednesday . The company traded as low as GBX 182 ($2.44) and last traded at GBX 190.20 ($2.55). 69,815,070 shares changed hands during trading, an increase of 2,794% from the average session volume of 2,412,183 shares. The stock had previously closed at GBX 213.50 ($2.87).

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Shore Capital restated a “buy” rating on shares of Serica Energy in a report on Wednesday, September 10th. Peel Hunt restated a “buy” rating and set a GBX 207 target price on shares of Serica Energy in a report on Tuesday, September 30th. JPMorgan Chase & Co. restated a “buy” rating and set a GBX 215 target price on shares of Serica Energy in a report on Wednesday, August 13th. Canaccord Genuity Group raised their target price on Serica Energy from GBX 215 to GBX 240 and gave the stock a “buy” rating in a report on Friday, October 3rd. Finally, Jefferies Financial Group restated a “buy” rating and set a GBX 190 target price on shares of Serica Energy in a report on Tuesday, August 5th. Six research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Serica Energy has an average rating of “Buy” and an average price target of GBX 212.

Serica Energy Price Performance

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 £749.40 million, a P/E ratio of -2,398.70, a PEG ratio of 2.15 and a beta of 0.44. The company has a fifty day moving average price of GBX 173.34 and a two-hundred day moving average price of GBX 156.26.

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.