Serica Energy (LON:SQZ) Trading Down 11.3% – Here’s What Happened

Serica Energy plc (LON:SQZ)’s stock price dropped 11.3% on Wednesday . The stock traded as low as GBX 121.98 ($1.54) and last traded at GBX 127.80 ($1.61). Approximately 10,925,269 shares were traded during mid-day trading, an increase of 537% from the average daily volume of 1,715,381 shares. The stock had previously closed at GBX 144 ($1.82).

Analysts Set New Price Targets

SQZ has been the subject of several analyst reports. Canaccord Genuity Group reissued a “buy” rating and issued a GBX 200 ($2.52) target price on shares of Serica Energy in a research note on Thursday, January 23rd. Berenberg Bank reissued a “buy” rating and issued a GBX 200 ($2.52) target price on shares of Serica Energy in a research note on Tuesday.

Serica Energy Stock Up 2.2 %

The firm has a fifty day simple moving average of GBX 141.93 and a 200-day simple moving average of GBX 135.65. The firm has a market cap of £643.82 million, a price-to-earnings ratio of -90.04, a P/E/G ratio of 2.15 and a beta of 0.44. The company has a debt-to-equity ratio of 26.31, a quick ratio of 1.22 and a current ratio of 1.69.

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.