Serica Energy (LON:SQZ) Trading Down 12.4% - Here's What Happened

Key Points

• Shares of Serica Energy plummeted by 12.4%, trading at GBX 187.11 ($2.51), following a significant drop from a previous close of GBX 213.50 ($2.87).
• Despite the decline, analysts maintain a consensus "Buy" rating for the stock, with multiple firms setting various price targets ranging from GBX 190 to GBX 240.
• Serica Energy has a market capitalization of £747.27 million and a notable debt-to-equity ratio of 26.31, indicating a leveraged position in the market.

Shares of Serica Energy plc (LON:SQZ - Get Free Report) fell 12.4% on Wednesday . The company traded as low as GBX 186.80 ($2.51) and last traded at GBX 187.11 ($2.51). 68,344,109 shares were traded during mid-day trading, an increase of 2,742% from the average session volume of 2,404,639 shares. The stock had previously closed at GBX 213.50 ($2.87).

Analyst Ratings Changes

A number of research firms recently weighed in on SQZ. Shore Capital reissued a "buy" rating on shares of Serica Energy in a report on Wednesday, September 10th. JPMorgan Chase & Co. reaffirmed a "buy" rating and set a GBX 215 price objective on shares of Serica Energy in a research note on Wednesday, August 13th. Jefferies Financial Group reaffirmed a "buy" rating and set a GBX 190 price objective on shares of Serica Energy in a research note on Tuesday, August 5th. Canaccord Genuity Group lifted their price objective on shares of Serica Energy from GBX 215 to GBX 240 and gave the stock a "buy" rating in a research note on Friday, October 3rd. Finally, Peel Hunt reaffirmed a "buy" rating and set a GBX 207 price objective on shares of Serica Energy in a research note on Tuesday, September 30th. Six research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of GBX 212.

Serica Energy Price Performance

The stock has a market capitalization of £747.27 million, a PE ratio of -2,391.86, a price-to-earnings-growth ratio of 2.15 and a beta of 0.44. The company has a quick ratio of 1.22, a current ratio of 1.69 and a debt-to-equity ratio of 26.31. The stock's 50 day moving average price is GBX 173.34 and its 200-day moving average price is GBX 156.26.

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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