Serica Energy (LON:SQZ) Stock Price Down 15.3% – Should You Sell?

Serica Energy plc (LON:SQZ)’s stock price dropped 15.3% during trading on Wednesday . The stock traded as low as GBX 146 ($1.98) and last traded at GBX 150.60 ($2.04). Approximately 29,118,072 shares changed hands during trading, an increase of 1,257% from the average daily volume of 2,146,250 shares. The stock had previously closed at GBX 177.80 ($2.41).

Wall Street Analysts Forecast Growth

SQZ has been the subject of several recent analyst reports. Shore Capital reaffirmed a “buy” rating on shares of Serica Energy in a research note on Wednesday. Canaccord Genuity Group reaffirmed a “buy” rating and set a GBX 190 price objective on shares of Serica Energy in a research note on Thursday, July 31st. Jefferies Financial Group reaffirmed a “buy” rating and set a GBX 190 price objective on shares of Serica Energy in a research note on Tuesday, August 5th. Finally, JPMorgan Chase & Co. reaffirmed a “buy” rating and set a GBX 215 price objective on shares of Serica Energy in a research note on Wednesday, August 13th. Five equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of GBX 203.

Serica Energy Trading Down 15.0%

The company has a market cap of £590.01 million, a PE ratio of -1,888.50, a PEG ratio of 2.15 and a beta of 0.44. 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 stock has a 50 day moving average price of GBX 169.15 and a 200 day moving average price of GBX 149.57.

Insider Activity at Serica Energy

In other Serica Energy news, insider Martin Copeland purchased 45,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 3rd. The stock was bought at an average cost of GBX 161 per share, for a total transaction of £72,450. 63.80% of the stock is currently owned by 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.