Serica Energy (LON:SQZ) Stock Price Down 10.6% - What's Next?

Key Points

• Serica Energy's stock price fell by 10.6% to GBX 190.80 ($2.56) during mid-day trading, with a notable increase in trading volume at 6,142,699 shares.
• Multiple analysts have given the stock a "buy" rating, with price targets ranging from GBX 190 to GBX 240, leading to an average target price of GBX 212.83.
• Despite the recent downturn, Serica Energy has a market capitalization of £745.12 million and solid liquidity ratios, indicating relatively stable financial health.

Serica Energy plc (LON:SQZ - Get Free Report)'s share price dropped 10.6% during mid-day 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 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 ($2.86).

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on SQZ shares. Peel Hunt reaffirmed a "buy" rating and set a GBX 207 price objective on shares of Serica Energy in a research report on Tuesday, September 30th. Jefferies Financial Group reaffirmed a "buy" rating and set a GBX 190 price objective on shares of Serica Energy in a research report on Tuesday, August 5th. Shore Capital reaffirmed a "buy" rating and set a GBX 225 price objective on shares of Serica Energy in a research report on Wednesday. JPMorgan Chase & Co. reaffirmed a "buy" rating and set a GBX 215 price objective on shares of Serica Energy in a research report on Wednesday, August 13th. 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 report on Friday, October 3rd. Six investment analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has an average rating of "Buy" and an average target price 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 firm has a market capitalization of £745.12 million, a price-to-earnings ratio of -2,385.00, a price-to-earnings-growth ratio of 2.15 and a beta of 0.44. The business has a fifty day moving average of GBX 173.34 and a two-hundred day moving average of 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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