Serica Energy (LON:SQZ) Stock Price Down 9.7% - What's Next?

Key Points

• Shares fell 9.7% intraday to GBX 265.50 on Wednesday (previous close GBX 294) on heavier-than-normal trading of about 4.82 million shares, +22% versus average volume.
• Analysts still show a consensus "Buy" rating with a consensus price target of GBX 252; individual targets cited range from GBX 238 to GBX 310 amid several recent target revisions.
• Fundamentals: market cap ~£1.04bn, negative P/E (-33.19) and debt-to-equity 33.93, while the stock remains above its 50-day (GBX 240.06) and 200-day (GBX 205.65) moving averages.

Serica Energy plc (LON:SQZ - Get Free Report) shares were down 9.7% during trading on Wednesday . The stock traded as low as GBX 260.50 and last traded at GBX 265.50. Approximately 4,821,989 shares changed hands during trading, an increase of 22% from the average daily volume of 3,963,964 shares. The stock had previously closed at GBX 294.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on SQZ shares. Berenberg Bank reiterated a "buy" rating and issued a GBX 300 price target on shares of Serica Energy in a research note on Thursday, March 26th. Panmure Gordon reduced their price objective on Serica Energy from GBX 270 to GBX 238 and set a "buy" rating on the stock in a research note on Tuesday, December 2nd. Shore Capital Group reissued a "buy" rating on shares of Serica Energy in a research note on Thursday, March 26th. Canaccord Genuity Group increased their target price on shares of Serica Energy from GBX 230 to GBX 310 and gave the stock a "buy" rating in a report on Monday. Finally, Stifel Nicolaus raised their price target on shares of Serica Energy from GBX 266 to GBX 281 and gave the company a "buy" rating in a research note on Tuesday. Eight investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Serica Energy presently has a consensus rating of "Buy" and a consensus price target of GBX 252.

Serica Energy Trading Down 9.7%

The company has a debt-to-equity ratio of 33.93, a quick ratio of 1.22 and a current ratio of 1.14. The firm has a market cap of £1.04 billion, a price-to-earnings ratio of -33.19, a PEG ratio of 2.15 and a beta of 0.78. The business has a fifty day simple moving average of GBX 240.06 and a 200-day simple moving average of GBX 205.65.

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. It also has 50% interest in the Columbus development; and 20% interest in the Skerryvore and Ruvaal prospects located in Central North Sea, as well as 100% interest in the North and South Eigg exploration prospects located in the Northern North Sea.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.