Serica Energy (LON:SQZ) Stock Price Down 10.4% - Should You Sell?

Key Points

• Serica Energy's stock price decreased by 10.4%, trading as low as GBX 182 ($2.44) during Wednesday's session, with a significant increase in trading volume of 2,799% compared to its average.
• Despite the drop in share price, multiple analysts, including those from Jefferies and Canaccord Genuity, have maintained a "buy" rating with price targets between GBX 190 and GBX 240.
• Serica Energy, focused on oil and gas reserves in the UK, has a current market cap of £749.40 million and a P/E ratio of -2,398.70, indicating potential challenges in profitability.

Serica Energy plc (LON:SQZ - Get Free Report)'s share price fell 10.4% during trading on Wednesday . The stock traded as low as GBX 182 ($2.44) and last traded at GBX 191.35 ($2.57). 69,947,250 shares changed hands during mid-day trading, an increase of 2,799% from the average session volume of 2,412,861 shares. The stock had previously closed at GBX 213.50 ($2.87).

Analyst Ratings Changes

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

Serica Energy Stock Performance

The business has a fifty day simple moving average of GBX 173.34 and a two-hundred day simple moving average of GBX 156.26. The company has a quick ratio of 1.22, a current ratio of 1.69 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 P/E/G 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.