Serica Energy (LON:SQZ) Shares Pass Below Two Hundred Day Moving Average – What’s Next?

Serica Energy plc (LON:SQZ)’s share price passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 239.97 and traded as low as GBX 223.60. Serica Energy shares last traded at GBX 223.60, with a volume of 818,877 shares.

Analyst Upgrades and Downgrades

SQZ has been the subject of a number of research analyst reports. Stifel Nicolaus upped their price objective on shares of Serica Energy from GBX 266 to GBX 281 and gave the company a “buy” rating in a research note on Tuesday, March 31st. Jefferies Financial Group reissued a “buy” rating and issued a GBX 310 target price on shares of Serica Energy in a research report on Tuesday, June 2nd. Shore Capital Group reaffirmed a “buy” rating on shares of Serica Energy in a research report on Thursday, March 26th. Canaccord Genuity Group increased their price target on shares of Serica Energy from GBX 230 to GBX 310 and gave the stock a “buy” rating in a research note on Monday, March 30th. Finally, Berenberg Bank reiterated a “buy” rating and issued a GBX 350 price target on shares of Serica Energy in a report on Tuesday, June 2nd. Eight equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of GBX 268.25.

Serica Energy Stock Performance

The stock’s 50 day moving average price is GBX 254.51 and its 200 day moving average price is GBX 239.97. The company has a current ratio of 1.14, a quick ratio of 1.22 and a debt-to-equity ratio of 33.93. The firm has a market cap of £863.91 million, a PE ratio of -17.02, a P/E/G ratio of 2.15 and a beta of 0.05.

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. 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.