Serica Energy (LON:SQZ) Shares Down 10.6% - Should You Sell?

Key Points

• Serica Energy's share price has fallen by 10.6%, trading between GBX 182 ($2.44) and GBX 190.80 ($2.56) on Wednesday, with a notable increase in trading volume.
• Multiple analysts maintain a "buy" rating on Serica Energy, with target prices ranging from GBX 190 to GBX 240, suggesting a positive outlook despite the recent share price decline.
• The company has a market cap of £745.12 million and operates oil and gas fields in the UK, holding significant interests in the Keith, Bruce, and Rhum fields.

Serica Energy plc (LON:SQZ - Get Free Report)'s share price was down 10.6% during trading on Wednesday . The company traded as low as GBX 182 ($2.44) and last traded at GBX 190.80 ($2.56). Approximately 6,142,699 shares traded hands during mid-day trading, an increase of 195% from the average daily volume of 2,085,658 shares. The stock had previously closed at GBX 213.50 ($2.87).

Analyst Upgrades and Downgrades

A number of analysts recently commented on SQZ shares. Shore Capital reaffirmed a "buy" rating and issued a GBX 225 target price on shares of Serica Energy in a research report on Wednesday. JPMorgan Chase & Co. reiterated a "buy" rating and set a GBX 215 price target on shares of Serica Energy in a research note on Wednesday, August 13th. Peel Hunt reiterated a "buy" rating and set a GBX 207 price target on shares of Serica Energy in a research note on Tuesday, September 30th. Jefferies Financial Group reiterated a "buy" rating and set a GBX 190 price target on shares of Serica Energy in a research note on Tuesday, August 5th. Finally, Canaccord Genuity Group lifted their price target on Serica Energy from GBX 215 to GBX 240 and gave the company a "buy" rating in a research note on Friday, October 3rd. Six equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of GBX 212.83.

Serica Energy Price Performance

The company has a current ratio of 1.69, a quick ratio of 1.22 and a debt-to-equity ratio of 26.31. The company has a market cap of £745.12 million, a P/E ratio of -2,385.00, a PEG ratio of 2.15 and a beta of 0.44. The business's fifty day moving average is GBX 173.34 and its 200 day moving average is GBX 156.26.

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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