Serica Energy (LON:SQZ) Stock Price Down 10.6% – Here’s What Happened

Shares of Serica Energy plc (LON:SQZ) dropped 10.6% during mid-day trading on Thursday . The stock traded as low as GBX 182 ($2.43) and last traded at GBX 190.80 ($2.55). Approximately 6,142,699 shares were traded during trading, an increase of 195% from the average daily volume of 2,085,658 shares. The stock had previously closed at GBX 213.50 ($2.85).

Analyst Ratings Changes

SQZ has been the topic of a number of recent research reports. Canaccord Genuity Group increased 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. Jefferies Financial Group reaffirmed a “buy” rating and issued a GBX 190 price objective on shares of Serica Energy in a report on Tuesday, August 5th. Peel Hunt reaffirmed a “buy” rating and issued a GBX 207 price objective on shares of Serica Energy in a report on Wednesday. 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. Finally, Shore Capital reissued a “buy” rating and issued a GBX 225 target price on shares of Serica Energy in a research report on Wednesday. Six research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Serica Energy presently has an average rating of “Buy” and a consensus target price of GBX 212.83.

Serica Energy Stock Down 6.0%

The firm has a 50 day simple moving average of GBX 174.48 and a two-hundred day simple moving average of GBX 157.32. 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 has a market capitalization of £700.60 million, a P/E ratio of -2,242.50, 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.