Serica Energy (LON:SQZ) Shares Cross Above 200 Day Moving Average – Here’s What Happened

Serica Energy plc (LON:SQZ)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 174.83 and traded as high as GBX 192.80. Serica Energy shares last traded at GBX 180.20, with a volume of 3,259,772 shares traded.

Analysts Set New Price Targets

A number of research firms have weighed in on SQZ. Canaccord Genuity Group boosted their target price on shares of Serica Energy from GBX 215 to GBX 240 and gave the stock a “buy” rating in a report on Friday, October 3rd. Shore Capital reiterated a “buy” rating and set a GBX 225 price target on shares of Serica Energy in a report on Wednesday, October 8th. Peel Hunt reissued a “buy” rating and issued a GBX 207 price objective on shares of Serica Energy in a research note on Tuesday, November 4th. JPMorgan Chase & Co. restated a “buy” rating and issued a GBX 215 price objective on shares of Serica Energy in a report on Wednesday, August 13th. Finally, Jefferies Financial Group lifted their target price on Serica Energy from GBX 190 to GBX 230 and gave the stock a “buy” rating in a report on Monday, October 20th. Six analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of GBX 219.50.

Serica Energy Stock Performance

The company has a debt-to-equity ratio of 26.31, a quick ratio of 1.22 and a current ratio of 1.69. The stock’s 50 day moving average price is GBX 195.85 and its 200 day moving average price is GBX 174.83. The company has a market capitalization of £695.92 million, a P/E ratio of -22.28, 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.