Serica Energy (LON:SQZ) Shares Down 10.6% - What's Next?

Key Points

• Serica Energy's stock price dropped by 10.6% on Wednesday, closing at GBX 190.80 ($2.56) after reaching a low of GBX 182 ($2.44).
• Despite the recent decline, several research firms maintain a "buy" rating, with the consensus price target at GBX 212.83.
• Serica Energy holds significant interests in multiple oil and gas fields in the UK, including 100% in the Keith field and 98% in the Bruce field.

Serica Energy plc (LON:SQZ - Get Free Report)'s stock price fell 10.6% on Wednesday . 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 ($2.87).

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SQZ. Peel Hunt reaffirmed a "buy" rating and set a GBX 207 price target on shares of Serica Energy in a research report on Tuesday, September 30th. Shore Capital restated a "buy" rating and issued a GBX 225 price target on shares of Serica Energy in a research note on Wednesday. Canaccord Genuity Group increased their price objective on 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 reiterated a "buy" rating and set a GBX 190 price objective on shares of Serica Energy in a research report on Tuesday, August 5th. Finally, JPMorgan Chase & Co. reissued a "buy" rating and set a GBX 215 target price on shares of Serica Energy in a report on Wednesday, August 13th. Six research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of GBX 212.83.

Serica Energy Stock Down 10.6%

The firm has a 50 day moving average of GBX 173.34 and a two-hundred day moving average of GBX 156.26. The firm has a market capitalization of £745.12 million, a price-to-earnings ratio of -2,385.00, a price-to-earnings-growth 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.

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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