Serica Energy (LON:SQZ) Stock Price Down 10.6% - Here's Why

Key Points

• Serica Energy plc shares experienced a significant drop of 10.6%, trading as low as GBX 182 ($2.44), compared to a previous close of GBX 213.50 ($2.87).
• Multiple brokerages have issued buy ratings for Serica Energy, with price targets varying from GBX 190 to GBX 240, indicating overall positive market sentiment for the stock.
• The company maintains a debt-to-equity ratio of 26.31 and a market capitalization of £745.12 million, signaling a stable financial position in the oil and gas sector.

Serica Energy plc (LON:SQZ - Get Free Report) shares 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 were traded during mid-day 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).

Analysts Set New Price Targets

A number of brokerages have recently weighed in on SQZ. Peel Hunt restated a "buy" rating and issued a GBX 207 price objective on shares of Serica Energy in a report on Tuesday, September 30th. Shore Capital restated a "buy" rating and issued a GBX 225 price objective on shares of Serica Energy in a report on Wednesday. Jefferies Financial Group restated a "buy" rating and issued a GBX 190 price objective on shares of Serica Energy in a report on Tuesday, August 5th. Canaccord Genuity Group raised their price objective on shares of Serica Energy from GBX 215 to GBX 240 and gave the company a "buy" rating in a report on Friday, October 3rd. Finally, JPMorgan Chase & Co. reaffirmed a "buy" rating and issued a GBX 215 target price on shares of Serica Energy in a research report on Wednesday, August 13th. Six equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Serica Energy has a consensus rating of "Buy" and a consensus price target of GBX 212.83.

Serica Energy Price Performance

The company has a debt-to-equity ratio of 26.31, a quick ratio of 1.22 and a current ratio of 1.69. The company has a market capitalization of £745.12 million, a PE ratio of -2,385.00, a P/E/G ratio of 2.15 and a beta of 0.44. The company's 50-day simple moving average is GBX 173.34 and its 200-day simple moving average is GBX 156.26.

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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