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

Key Points

• Serica Energy's stock price fell by 10.6% during trading, closing at GBX 190.80 ($2.56) after reaching a low of GBX 182 ($2.44).
• Despite the decline, analysts from multiple brokerages maintain a buy rating on the stock, with price targets ranging from GBX 190 to GBX 240.
• The company has a market capitalization of £746.69 million and operates oil and gas assets in the United Kingdom, including significant interests in multiple fields in the North Sea.

Serica Energy plc (LON:SQZ - Get Free Report) fell 10.6% during trading on Thursday . The company traded as low as GBX 182 ($2.44) and last traded at GBX 190.80 ($2.56). 6,142,699 shares traded hands 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 ($2.86).

Wall Street Analysts Forecast Growth

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

Serica Energy Stock Up 0.2%

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 simple moving average of GBX 173.70 and a 200 day simple moving average of GBX 156.50. The stock has a market cap of £746.69 million, a price-to-earnings ratio of -2,390.00, a PEG 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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