Serica Energy (LON:SQZ) Stock Price Down 12% - Here's Why

Key Points

• Serica Energy's stock price dropped 12% during trading, closing at GBX 187.95 ($2.52) after trading as low as GBX 182 ($2.44).
• Despite the decline, the company has a consensus rating of "Buy" from research analysts, with price targets ranging from GBX 190 to GBX 240.
• Serica Energy, an upstream oil and gas company, holds significant interests in various oil fields in the UK, including a 100% interest in the Keith oil field and a 98% interest in the Bruce field.

Serica Energy plc (LON:SQZ - Get Free Report)'s stock price traded down 12% during trading on Wednesday . The stock traded as low as GBX 182 ($2.44) and last traded at GBX 187.95 ($2.52). 71,011,141 shares changed hands during trading, an increase of 2,836% from the average session volume of 2,418,316 shares. The stock had previously closed at GBX 213.50 ($2.87).

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Canaccord Genuity Group lifted 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. Jefferies Financial Group restated a "buy" rating and set a GBX 190 price target on shares of Serica Energy in a research report on Tuesday, August 5th. Shore Capital restated a "buy" rating and set a GBX 225 price target on shares of Serica Energy in a research report on Wednesday. Peel Hunt reiterated a "buy" rating and issued a GBX 207 target price on shares of Serica Energy in a report on Tuesday, September 30th. Finally, 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. Six research analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of GBX 212.83.

Serica Energy Stock Performance

The firm's 50 day moving average is GBX 173.34 and its two-hundred day moving average is GBX 156.26. The stock 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 has a debt-to-equity ratio of 26.31, a quick ratio of 1.22 and a current ratio of 1.69.

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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