Serica Energy (LON:SQZ) Trading Down 13.4% – Time to Sell?

Shares of Serica Energy plc (LON:SQZ) dropped 13.4% during mid-day trading on Wednesday . The company traded as low as GBX 146 ($1.98) and last traded at GBX 154 ($2.08). Approximately 28,572,934 shares traded hands during mid-day trading, an increase of 1,233% from the average daily volume of 2,143,135 shares. The stock had previously closed at GBX 177.80 ($2.41).

Analyst Ratings Changes

A number of research firms recently commented on SQZ. Shore Capital reiterated a “buy” rating on shares of Serica Energy in a report on Wednesday. Canaccord Genuity Group restated a “buy” rating and issued a GBX 190 price objective on shares of Serica Energy in a research note on Thursday, July 31st. Jefferies Financial Group reiterated a “buy” rating and set a GBX 190 target price on shares of Serica Energy in a research note on Tuesday, August 5th. Finally, 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. Five research analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of GBX 203.

Serica Energy Stock Performance

The company has a fifty day moving average of GBX 169.15 and a two-hundred day moving average of GBX 149.57. The firm has a market capitalization of £599.63 million, a price-to-earnings ratio of -1,919.31, a PEG ratio of 2.15 and a beta of 0.44. The company has a debt-to-equity ratio of 26.31, a quick ratio of 1.22 and a current ratio of 1.69.

Insiders Place Their Bets

In other news, insider Martin Copeland bought 45,000 shares of the company’s stock in a transaction dated Thursday, July 3rd. The stock was bought at an average price of GBX 161 per share, with a total value of £72,450. 63.80% of the stock is 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.