Serica Energy (LON:SQZ) Stock Price Up 8.4% – Here’s What Happened

Serica Energy plc (LON:SQZ)’s share price shot up 8.4% on Wednesday . The company traded as high as GBX 147 ($1.90) and last traded at GBX 145.20 ($1.88). 3,347,482 shares were traded during trading, an increase of 33% from the average session volume of 2,514,716 shares. The stock had previously closed at GBX 134 ($1.73).

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SQZ. Canaccord Genuity Group reiterated a “buy” rating and issued a GBX 200 ($2.59) price target on shares of Serica Energy in a report on Thursday, January 23rd. Berenberg Bank reiterated a “buy” rating and issued a GBX 200 ($2.59) target price on shares of Serica Energy in a report on Tuesday, February 18th.

Serica Energy Stock Performance

The company has a quick ratio of 1.22, a current ratio of 1.69 and a debt-to-equity ratio of 26.31. The firm has a market capitalization of £726.41 million, a price-to-earnings ratio of -101.59, a P/E/G ratio of 2.15 and a beta of 0.44. The business has a 50-day moving average price of GBX 134.97 and a 200-day moving average price of GBX 136.45.

Serica Energy (LON:SQZ) last released its quarterly earnings results on Tuesday, April 1st. The company reported GBX 0.24 ($0.00) EPS for the quarter. Serica Energy had a negative return on equity of 1.09% and a negative net margin of 1.09%. As a group, sell-side analysts forecast that Serica Energy plc will post 30.373444 earnings per share for the current year.

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.