Serica Energy (LON:SQZ) Shares Down 10.6% - Time to Sell?

Key Points

• Serica Energy's shares fell 10.6% during mid-day trading, marking a significant drop from the previous close of GBX 213.50 ($2.86).
• Despite the drop, analysts maintain a "Buy" rating for the stock, with price targets ranging from GBX 190 to GBX 240.
• The company has a market capitalization of £746.69 million and is involved in upstream oil and gas operations in the UK.

Serica Energy plc (LON:SQZ - Get Free Report) fell 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).

Wall Street Analysts Forecast Growth

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

Serica Energy Stock Up 0.2%

The company has a market capitalization of £746.69 million, a price-to-earnings ratio of -2,390.00, a P/E/G ratio of 2.15 and a beta of 0.44. The business's 50-day moving average is GBX 173.70 and its 200-day moving average is GBX 156.50. 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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