Serica Energy (LON:SQZ) Stock Price Down 10.6% - Time to Sell?

Key Points

• Serica Energy plc experienced a significant stock price drop of 10.6%, closing at GBX 190.80 ($2.56) after trading as low as GBX 182 ($2.44).
• Despite the recent dip, the company has received a consensus "buy" rating from various analysts, with target prices ranging from GBX 190 to GBX 240.
• Serica Energy operates oil and gas fields primarily in the United Kingdom, holding significant interests in the Bruce, Rhum, and Keith fields.

Serica Energy plc (LON:SQZ - Get Free Report)'s stock price dropped 10.6% during trading on Wednesday . The company traded as low as GBX 182 ($2.44) and last traded at GBX 190.80 ($2.56). Approximately 6,142,699 shares traded hands during mid-day trading, an increase of 195% from the average daily volume of 2,085,658 shares. The stock had previously closed at GBX 213.50 ($2.87).

Wall Street Analysts Forecast Growth

SQZ has been the subject of several research reports. Shore Capital reissued a "buy" rating and issued a GBX 225 price objective on shares of Serica Energy in a research report on Wednesday. Peel Hunt restated a "buy" rating and set a GBX 207 target price on shares of Serica Energy in a report on Tuesday, September 30th. Jefferies Financial Group reiterated a "buy" rating and set a GBX 190 price objective on shares of Serica Energy in a report on Tuesday, August 5th. Canaccord Genuity Group lifted their target price on Serica Energy from GBX 215 to GBX 240 and gave the company a "buy" rating in a research report on Friday, October 3rd. Finally, JPMorgan Chase & Co. reaffirmed a "buy" rating and set a GBX 215 price target on shares of Serica Energy in a research report on Wednesday, August 13th. Six investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of GBX 212.83.

Serica Energy Trading Down 10.6%

The business has a fifty day simple moving average of GBX 173.34 and a 200-day simple moving average of GBX 156.26. 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 firm has a market cap of £745.12 million, a price-to-earnings ratio of -2,385.00, 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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