Serica Energy (LON:SQZ) Trading Down 12.4% - What's Next?

Key Points

• Serica Energy's share price dropped **12.4%**, closing at GBX 187.11 ($2.51) after hitting a low of GBX 182 ($2.44) during trading.
• Despite the recent decline, **six brokerages** have maintained a "buy" rating for Serica Energy, with an average target price of GBX **212**.
• The company's market capitalization stands at **£747.27 million**, with a high debt-to-equity ratio of **26.31** indicating potential financial risks.

Serica Energy plc (LON:SQZ - Get Free Report)'s share price fell 12.4% during trading on Wednesday . The company traded as low as GBX 182 ($2.44) and last traded at GBX 187.11 ($2.51). 69,403,266 shares were traded during trading, an increase of 2,780% from the average session volume of 2,410,071 shares. The stock had previously closed at GBX 213.50 ($2.87).

Wall Street Analyst Weigh In

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

Serica Energy Stock Performance

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 firm has a fifty day moving average price of GBX 173.34 and a two-hundred day moving average price of GBX 156.26. The stock has a market capitalization of £747.27 million, a PE ratio of -2,391.86, a P/E/G 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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