Serica Energy (LON:SQZ) Trading Down 10.6% - Here's Why

Key Points

• Serica Energy's stock dropped by 10.6%, trading as low as GBX 182 ($2.44) during mid-day trading on Thursday.
• Despite the decrease, several analysts maintained a "buy" rating for the stock, with target prices ranging from GBX 190 to GBX 240.
• The company's market capitalization is approximately £745.90 million, and it has a debt-to-equity ratio of 26.31.

Serica Energy plc (LON:SQZ - Get Free Report) was down 10.6% during mid-day trading on Thursday . The company traded as low as GBX 182 ($2.44) and last traded at GBX 190.80 ($2.56). Approximately 6,142,699 shares were traded 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).

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on SQZ shares. Shore Capital reissued a "buy" rating and issued a GBX 225 target price on shares of Serica Energy in a research report on Wednesday. Jefferies Financial Group reissued a "buy" rating and issued a GBX 190 target price on shares of Serica Energy in a research report on Tuesday, August 5th. JPMorgan Chase & Co. reissued a "buy" rating and issued a GBX 215 target price on shares of Serica Energy in a research report on Wednesday, August 13th. Peel Hunt reissued a "buy" rating and issued a GBX 207 target price on shares of Serica Energy in a research report on Wednesday. Finally, Canaccord Genuity Group upped 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. Six analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of GBX 212.83.

Serica Energy Stock Up 0.1%

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 fifty day moving average price of GBX 173.70 and a 200 day moving average price of GBX 156.50. The firm has a market capitalization of £745.90 million, a price-to-earnings ratio of -2,387.50, 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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