Serica Energy (LON:SQZ) Shares Down 10.9% - Should You Sell?

Key Points

• Serica Energy's stock price fell by 10.9%, trading as low as GBX 182 ($2.44) during the day.
• Despite the drop, several analysts have maintained a "buy" rating, with price targets ranging from GBX 190 to GBX 240.
• Serica Energy's current market capitalization stands at £749.40 million, with notable interests in various oil and gas fields in the UK.

Serica Energy plc (LON:SQZ - Get Free Report)'s stock price traded down 10.9% on Wednesday . The stock traded as low as GBX 182 ($2.44) and last traded at GBX 190.20 ($2.55). 69,815,070 shares traded hands during trading, an increase of 2,794% from the average session volume of 2,412,183 shares. The stock had previously closed at GBX 213.50 ($2.87).

Analyst Upgrades and Downgrades

A number of equities analysts have commented on SQZ shares. JPMorgan Chase & Co. restated a "buy" rating and set a GBX 215 price objective on shares of Serica Energy in a research note on Wednesday, August 13th. Jefferies Financial Group restated a "buy" rating and set a GBX 190 price objective on shares of Serica Energy in a research note on Tuesday, August 5th. Peel Hunt restated a "buy" rating and set a GBX 207 price objective on shares of Serica Energy in a research note on Tuesday, September 30th. Canaccord Genuity Group raised their price objective on Serica Energy from GBX 215 to GBX 240 and gave the stock a "buy" rating in a research note on Friday, October 3rd. Finally, Shore Capital restated a "buy" rating on shares of Serica Energy in a research note on Wednesday, September 10th. Six investment analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has an average rating of "Buy" and an average target price of GBX 212.

Serica Energy Stock Performance

The company has a 50 day moving average price of GBX 173.34 and a 200-day moving average price of GBX 156.26. 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 £749.40 million, a P/E ratio of -2,398.70, a price-to-earnings-growth ratio of 2.15 and a beta of 0.44.

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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