Serica Energy (LON:SQZ) Trading Down 10.6% – Here’s What Happened

Serica Energy plc (LON:SQZ)’s share price fell 10.6% on Thursday . The company traded as low as GBX 182 ($2.43) and last traded at GBX 190.80 ($2.55). 6,142,699 shares were traded during mid-day trading, an increase of 195% from the average session volume of 2,085,658 shares. The stock had previously closed at GBX 213.50 ($2.85).

Analyst Ratings Changes

Several research analysts recently commented on the company. Peel Hunt reiterated a “buy” rating and issued a GBX 207 price target on shares of Serica Energy in a research report on Wednesday. Jefferies Financial Group reiterated a “buy” rating and issued a GBX 190 target price on shares of Serica Energy in a report on Tuesday, August 5th. Canaccord Genuity Group increased their price target on Serica Energy from GBX 215 to GBX 240 and gave the company a “buy” rating in a report on Friday, October 3rd. JPMorgan Chase & Co. restated a “buy” rating and issued a GBX 215 price target on shares of Serica Energy in a research report on Wednesday, August 13th. Finally, Shore Capital reiterated a “buy” rating and set a GBX 225 price objective on shares of Serica Energy in a research report on Wednesday. Six analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of GBX 212.83.

Serica Energy Trading Down 6.0%

The stock has a fifty day moving average of GBX 174.48 and a 200-day moving average of GBX 157.32. The company has a market cap of £700.60 million, a PE ratio of -2,242.50, 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.

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.