Serica Energy (LON:SQZ) Trading Down 10.6% - Should You Sell?

Key Points

• Serica Energy plc's stock price fell by 10.6%, closing at GBX 190.80 ($2.56) after hitting a low of GBX 182 ($2.44).
• Analysts maintain a consensus "Buy" rating for Serica Energy, with target prices ranging from GBX 190 to GBX 240, indicating confidence in the stock's potential recovery.
• The company has a strong financial position with a current ratio of 1.69 and a market capitalization of £745.90 million.

Serica Energy plc (LON:SQZ - Get Free Report) fell 10.6% on Thursday . The company traded as low as GBX 182 ($2.44) and last traded at GBX 190.80 ($2.56). 6,142,699 shares were traded during mid-day trading, an increase of 195% from the average session volume of 2,085,658 shares. The stock had previously closed at GBX 213.50 ($2.86).

Analyst Upgrades and Downgrades

Several research analysts recently commented on SQZ shares. Peel Hunt reissued a "buy" rating and set a GBX 207 target price on shares of Serica Energy in a research note on Wednesday. Shore Capital reissued a "buy" rating and set a GBX 225 target price on shares of Serica Energy in a research note on Wednesday. JPMorgan Chase & Co. reissued a "buy" rating and set a GBX 215 target price on shares of Serica Energy in a research note on Wednesday, August 13th. Canaccord Genuity Group boosted their target price on Serica Energy from GBX 215 to GBX 240 and gave the stock a "buy" rating in a research note on Friday, October 3rd. Finally, Jefferies Financial Group reissued a "buy" rating and set a GBX 190 target price on shares of Serica Energy in a research note on Tuesday, August 5th. Six analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of GBX 212.83.

Serica Energy Price Performance

The company has a current ratio of 1.69, a quick ratio of 1.22 and a debt-to-equity ratio of 26.31. The company has a market capitalization of £745.90 million, a PE ratio of -2,387.50, a P/E/G ratio of 2.15 and a beta of 0.44. The stock has a fifty day simple moving average of GBX 173.70 and a 200-day simple moving average of GBX 156.50.

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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