Serica Energy (LON:SQZ) Shares Down 10.1% - Time to Sell?

Key Points

• Serica Energy's shares declined by 10.1% during trading, falling to GBX 192.03 ($2.58), with a significant increase in trading volume at over 70 million shares.
• Despite the recent dip in share price, several Wall Street analysts have maintained a "buy" rating for Serica Energy, with target prices ranging from GBX 190 to GBX 240.
• The company's current market capitalization stands at £750.90 million, alongside notable financial ratios including a price-to-earnings ratio of -2,403.50.

Shares of Serica Energy plc (LON:SQZ - Get Free Report) were down 10.1% during trading on Wednesday . The company traded as low as GBX 182 ($2.44) and last traded at GBX 192.03 ($2.58). Approximately 70,149,297 shares traded hands during mid-day trading, an increase of 2,806% from the average daily volume of 2,413,897 shares. The stock had previously closed at GBX 213.50 ($2.87).

Wall Street Analysts Forecast Growth

A number of analysts have commented on SQZ shares. Shore Capital reiterated a "buy" rating on shares of Serica Energy in a report on Wednesday, September 10th. Peel Hunt reiterated a "buy" rating and set a GBX 207 price target on shares of Serica Energy in a report on Tuesday, September 30th. Jefferies Financial Group restated a "buy" rating and issued a GBX 190 price objective on shares of Serica Energy in a report on Tuesday, August 5th. Canaccord Genuity Group upped their target price on shares of Serica Energy from GBX 215 to GBX 240 and gave the company a "buy" rating in a research report on Friday, October 3rd. Finally, JPMorgan Chase & Co. reiterated a "buy" rating and set a GBX 215 price target on shares of Serica Energy in a research report on Wednesday, August 13th. Six equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of GBX 212.

Serica Energy Stock Down 9.9%

The business's fifty day moving average is GBX 173.34 and its two-hundred day moving average is GBX 156.26. The stock has a market cap of £750.90 million, a price-to-earnings ratio of -2,403.50, a PEG ratio of 2.15 and a beta of 0.44. The company has a quick ratio of 1.22, a current ratio of 1.69 and a debt-to-equity ratio of 26.31.

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.

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