Serica Energy (LON:SQZ) Stock Price Down 12% - What's Next?

Key Points

• Serica Energy's share price fell 12% to GBX 187.95 ($2.52) during mid-day trading, significantly decreasing from the previous close of GBX 213.50 ($2.87).
• Despite the drop, several analysts have maintained a "buy" rating" for Serica Energy, with target prices ranging from GBX 190 to GBX 240.
• The company has a market cap of £745.12 million, with a notable debt-to-equity ratio of 26.31 and an average rating of "Buy" from six analysts.

Serica Energy plc (LON:SQZ - Get Free Report)'s share price traded down 12% during mid-day trading on Wednesday . The company 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 Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Peel Hunt reaffirmed a "buy" rating and set a GBX 207 target price on shares of Serica Energy in a research report on Tuesday, September 30th. Jefferies Financial Group reiterated a "buy" rating and set a GBX 190 price target on shares of Serica Energy in a report on Tuesday, August 5th. Canaccord Genuity Group lifted their price target on 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. reiterated a "buy" rating and set a GBX 215 price target on shares of Serica Energy in a report on Wednesday, August 13th. Finally, Shore Capital reiterated a "buy" rating and set a GBX 225 price target on shares of Serica Energy in a report on Wednesday. Six investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, Serica Energy has an average rating of "Buy" and an average target price of GBX 212.83.

Serica Energy Stock Down 10.6%

The business has a 50 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 current ratio of 1.69 and a quick ratio of 1.22. The stock has a market cap 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.

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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