Serica Energy (LON:SQZ) Shares Down 10.1% - What's Next?

Key Points

• Serica Energy's shares fell by 10.1% on Wednesday, trading as low as GBX 182 ($2.44) before closing at GBX 192.03 ($2.58), marking a significant drop from the previous closing price of GBX 213.50 ($2.87).
• Despite the recent decline in share price, multiple analysts maintain a strong bullish outlook, with six analysts rating the stock as "Buy", and an average price target of GBX 212.
• The company has a market capitalization of £750.90 million and operates oil and gas fields in the UK, holding interests in significant assets like the Keith and Bruce fields.

Serica Energy plc (LON:SQZ - Get Free Report)'s share price dropped 10.1% during trading on Wednesday . The stock 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).

Analyst Ratings Changes

SQZ has been the subject of several research analyst reports. JPMorgan Chase & Co. reaffirmed a "buy" rating and issued a GBX 215 price objective on shares of Serica Energy in a research report on Wednesday, August 13th. Shore Capital reaffirmed a "buy" rating on shares of Serica Energy in a research report on Wednesday, September 10th. Canaccord Genuity Group raised their price target on shares of Serica Energy from GBX 215 to GBX 240 and gave the stock a "buy" rating in a research report on Friday, October 3rd. Jefferies Financial Group reissued a "buy" rating and set a GBX 190 price target on shares of Serica Energy in a research report on Tuesday, August 5th. Finally, Peel Hunt reissued a "buy" rating and set a GBX 207 price target on shares of Serica Energy in a research report on Tuesday, September 30th. Six equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of GBX 212.

Serica Energy Stock Down 9.9%

The business's 50 day moving average is GBX 173.34 and its 200-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 debt-to-equity ratio of 26.31, a quick ratio of 1.22 and a current ratio of 1.69.

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.

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