Serica Energy (LON:SQZ) Stock Price Down 9.7% – Here’s Why

Serica Energy plc (LON:SQZ)’s stock price traded down 9.7% on Wednesday . The company traded as low as GBX 260.50 and last traded at GBX 265.50. 4,821,989 shares were traded during trading, an increase of 22% from the average session volume of 3,963,964 shares. The stock had previously closed at GBX 294.

Wall Street Analyst Weigh In

SQZ has been the topic of a number of recent analyst reports. Canaccord Genuity Group boosted their price target on shares of Serica Energy from GBX 230 to GBX 310 and gave the stock a “buy” rating in a research report on Monday. Panmure Gordon lowered their target price on shares of Serica Energy from GBX 270 to GBX 238 and set a “buy” rating for the company in a research note on Tuesday, December 2nd. Shore Capital Group restated a “buy” rating on shares of Serica Energy in a report on Thursday, March 26th. Berenberg Bank reaffirmed a “buy” rating and set a GBX 300 price target on shares of Serica Energy in a research report on Thursday, March 26th. Finally, Stifel Nicolaus increased their price target on Serica Energy from GBX 266 to GBX 281 and gave the stock a “buy” rating in a report on Tuesday. Eight research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Serica Energy presently has a consensus rating of “Buy” and an average target price of GBX 252.

Serica Energy Trading Down 9.7%

The firm’s 50-day moving average price is GBX 240.06 and its 200 day moving average price is GBX 205.65. The company has a market cap of £1.04 billion, a price-to-earnings ratio of -33.19, a P/E/G ratio of 2.15 and a beta of 0.78. The company has a current ratio of 1.14, a quick ratio of 1.22 and a debt-to-equity ratio of 33.93.

About Serica Energy

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. It also has 50% interest in the Columbus development; and 20% interest in the Skerryvore and Ruvaal prospects located in Central North Sea, as well as 100% interest in the North and South Eigg exploration prospects located in the Northern North Sea.