Serica Energy (LON:SQZ) Share Price Crosses Below 200-Day Moving Average - Here's What Happened

Key Points

• Serica Energy shares fell below their 200-day moving average, trading as low as GBX 247 before closing at GBX 253.80, with more than 10.8 million shares changing hands.
• Despite the technical weakness, analysts remain positive: seven analysts rate the stock a Buy, with a consensus target price of GBX 283.71 and recent targets ranging from GBX 320 to GBX 365.
• The company reported quarterly EPS of GBX 2, but posted a negative 0.62% return on equity and a negative 0.27% net margin; analysts expect full-year EPS of approximately GBX 30.37.

Serica Energy plc (LON:SQZ - Get Free Report)'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

A number of research firms recently weighed in on SQZ. Berenberg Bank restated a "buy" rating and issued a GBX 365 target price on shares of Serica Energy in a research report on Thursday, August 6th. Canaccord Genuity Group reiterated a "buy" rating and set a GBX 340 price target on shares of Serica Energy in a research report on Monday, July 27th. Finally, Jefferies Financial Group reissued a "buy" rating and set a GBX 320 price target on shares of Serica Energy in a research note on Wednesday, September 9th. Seven investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of GBX 283.71.

Serica Energy Price Performance

The firm's 50 day simple moving average is GBX 255.48 and its two-hundred day simple moving average is GBX 257.06. The company has a debt-to-equity ratio of 47.47, a current ratio of 1.42 and a quick ratio of 1.22. The firm has a market capitalization of £994.67 million, a P/E ratio of -19.98, a P/E/G ratio of 2.15 and a beta of 0.05.

Serica Energy (LON:SQZ - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported GBX 2 earnings per share (EPS) for the quarter. Serica Energy had a negative return on equity of 0.62% and a negative net margin of 0.27%. As a group, analysts predict 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. 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.

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