Serica Energy (LON:SQZ) Stock Price Down 10.6% - Should You Sell?

Key Points

• Serica Energy's stock price dropped by 10.6%, closing at GBX 190.80 ($2.56) after hitting a low of GBX 182 during trading, with a trading volume increase of 195% from its average.
• Despite the recent drop, the stock has a consensus "Buy" rating from six analysts, with an average price target of GBX 212.83.
• The company has significant holdings in various oil and gas fields in the UK, including a 100% interest in the Keith oil field and a 50% interest in the Rhum gas field.

Serica Energy plc (LON:SQZ - Get Free Report) was down 10.6% during trading on Wednesday . The stock traded as low as GBX 182 ($2.44) and last traded at GBX 190.80 ($2.56). Approximately 6,142,699 shares changed hands during trading, an increase of 195% from the average daily volume of 2,085,658 shares. The stock had previously closed at GBX 213.50 ($2.86).

Analyst Ratings Changes

Several analysts recently issued reports on the stock. 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. Shore Capital restated a "buy" rating and issued a GBX 225 price objective on shares of Serica Energy in a report on Wednesday. Canaccord Genuity Group boosted 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. JPMorgan Chase & Co. restated a "buy" rating and issued a GBX 215 price objective on shares of Serica Energy in a report on Wednesday, August 13th. Finally, 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. Six analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of GBX 212.83.

Serica Energy Stock Performance

The firm has a market capitalization of £745.12 million, a price-to-earnings ratio of -2,385.00, a P/E/G 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. The stock has a 50-day moving average price of GBX 173.70 and a 200 day moving average price of GBX 156.50.

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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