Serica Energy (LON:SQZ) Stock Price Crosses Below 200-Day Moving Average – Here’s Why

Serica Energy plc (LON:SQZ)’s share price passed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of GBX 257.06 and traded as low as GBX 247. Serica Energy shares last traded at GBX 253.80, with a volume of 10,891,577 shares changing hands.

Wall Street Analysts Forecast Growth

SQZ has been the subject of several research analyst reports. Canaccord Genuity Group reaffirmed a “buy” rating and issued a GBX 340 target price on shares of Serica Energy in a research report on Monday, July 27th. Jefferies Financial Group restated a “buy” rating and issued a GBX 320 price objective on shares of Serica Energy in a report on Wednesday, September 9th. Finally, Berenberg Bank reaffirmed a “buy” rating and set a GBX 365 price objective on shares of Serica Energy in a research report on Thursday, August 6th. Seven equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of GBX 283.71.

Serica Energy Stock Performance

The company has a current ratio of 1.42, a quick ratio of 1.22 and a debt-to-equity ratio of 47.47. The company’s 50 day moving average is GBX 255.51 and its 200-day moving average is GBX 256.99. The company has a market capitalization of £1.01 billion, a P/E ratio of -19.98, a price-to-earnings-growth ratio of 2.15 and a beta of 0.05.

Serica Energy (LON:SQZ) last announced its quarterly earnings data on Thursday, August 6th. The company reported GBX 2 earnings per share for the quarter. Serica Energy had a negative net margin of 0.27% and a negative return on equity of 0.62%. Equities analysts anticipate that Serica Energy plc will post 30.373444 EPS for the current fiscal year.

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.