Serica Energy (LON:SQZ) Stock Price Crosses Above 200 Day Moving Average - Here's Why

Key Points

• Serica Energy shares briefly crossed above their 200-day moving average of GBX 248.92, reaching GBX 249 before last trading at GBX 239.20 on volume of 1.17 million shares.
• Analysts remain bullish: seven analysts rate the stock a Buy, with an average price target of GBX 282.29. Recent targets range from GBX 310 to GBX 365.
• The company reported quarterly EPS of GBX 2, but continues to show a negative return on equity of 7.80% and a negative net margin of 3.63%.

Serica Energy plc (LON:SQZ - Get Free Report) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 248.92 and traded as high as GBX 249. Serica Energy shares last traded at GBX 239.20, with a volume of 1,167,137 shares trading hands.

Analyst Ratings Changes

SQZ has been the topic of several research analyst reports. Berenberg Bank reiterated a "buy" rating and issued a GBX 365 price target on shares of Serica Energy in a research note on Thursday, August 6th. Jefferies Financial Group restated a "buy" rating and set a GBX 310 price objective on shares of Serica Energy in a research report on Tuesday, June 2nd. Finally, Canaccord Genuity Group reaffirmed a "buy" rating and issued a GBX 340 target price on shares of Serica Energy in a report on Monday, July 27th. Seven research analysts have rated the stock with a Buy rating, According to MarketBeat, Serica Energy currently has an average rating of "Buy" and an average price target of GBX 282.29.

Serica Energy Stock Performance

The company has a 50-day moving average of GBX 237.66 and a 200 day moving average of GBX 248.92. The company has a debt-to-equity ratio of 47.47, a current ratio of 1.42 and a quick ratio of 1.22. The company has a market cap of £934.21 million, a PE ratio of -18.40, a price-to-earnings-growth ratio of 2.15 and a beta of 0.05.

Serica Energy (LON:SQZ - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported GBX 2 earnings per share (EPS) for the quarter. Serica Energy had a negative return on equity of 7.80% and a negative net margin of 3.63%. Analysts predict that Serica Energy plc will post 30.373444 earnings per share for the current year.

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. It also has 50% interest in the Columbus development; and 20% interest in the Skerryvore and Ruvaal prospects located in Central North Sea, as well as 100% interest in the North and South Eigg exploration prospects located in the Northern North Sea.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source