Serica Energy (LON:SQZ) Stock Breaks Below Two Hundred Day Moving Average - What's Next?

Key Points

• Serica Energy shares fell below their 200-day moving average, reaching GBX 255.20 before recovering to GBX 263.60, with 816,344 shares traded.
• Analysts remain broadly positive: seven analysts rate the stock a Buy, with a consensus price target of GBX 283.71. Recent targets range from GBX 320 to GBX 365.
• The company reported quarterly EPS of GBX 2, while profitability metrics remained weak, including a negative return on equity of 0.62% and a negative net margin of 0.27%.

Serica Energy plc (LON:SQZ - Get Free Report) shares passed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of GBX 256.51 and traded as low as GBX 255.20. Serica Energy shares last traded at GBX 263.60, with a volume of 816,344 shares traded.

Wall Street Analysts Forecast Growth

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

Serica Energy Stock Performance

The stock has a fifty day simple moving average of GBX 257.50 and a two-hundred day simple moving average of GBX 256.51. The company has a debt-to-equity ratio of 47.47, a quick ratio of 1.22 and a current ratio of 1.42. The stock has a market capitalization of £1.03 billion, a price-to-earnings 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%. Analysts forecast that Serica Energy plc will post 30.373444 earnings per share for the current fiscal 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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