Serica Energy (LON:SQZ) Shares Down 10.6% - Here's What Happened

Key Points

• Serica Energy's shares fell by 10.6%, closing at GBX 190.80 ($2.56) after trading as low as GBX 182 ($2.44) during the day.
• Multiple analysts have maintained a "buy" rating on Serica Energy, with price targets ranging from GBX 190 to GBX 240, indicating positive expectations for the stock despite its recent decline.
• Serica Energy has a market capitalization of £745.90 million and important financial ratios include a debt-to-equity ratio of 26.31 and a PE ratio of -2,387.50, reflecting a complex financial position.

Serica Energy plc (LON:SQZ - Get Free Report) traded down 10.6% during mid-day trading on Thursday . The company traded as low as GBX 182 ($2.44) and last traded at GBX 190.80 ($2.56). 6,142,699 shares traded hands during trading, an increase of 195% from the average session volume of 2,085,658 shares. The stock had previously closed at GBX 213.50 ($2.86).

Analysts Set New Price Targets

Several research analysts recently weighed in on SQZ shares. Peel Hunt restated a "buy" rating and set a GBX 207 price target on shares of Serica Energy in a report on Wednesday. Shore Capital restated a "buy" rating and set a GBX 225 price target on shares of Serica Energy in a report on Wednesday. Jefferies Financial Group restated a "buy" rating and set a GBX 190 price target on shares of Serica Energy in a report on Tuesday, August 5th. JPMorgan Chase & Co. restated a "buy" rating and set a GBX 215 price target on shares of Serica Energy in a report on Wednesday, August 13th. Finally, Canaccord Genuity Group boosted their price target on shares of Serica Energy from GBX 215 to GBX 240 and gave the stock a "buy" rating in a report on Friday, October 3rd. Six analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of GBX 212.83.

Serica Energy Trading Up 0.1%

The company has a debt-to-equity ratio of 26.31, a current ratio of 1.69 and a quick ratio of 1.22. The stock has a market capitalization of £745.90 million, a PE ratio of -2,387.50, a PEG ratio of 2.15 and a beta of 0.44. The stock's 50 day simple moving average is GBX 173.70 and its two-hundred day simple moving average is GBX 156.50.

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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