Serica Energy (LON:SQZ) Shares Down 12% – Should You Sell?

Shares of Serica Energy plc (LON:SQZ) were down 12% during mid-day trading on Tuesday . The company traded as low as GBX 121.98 ($1.53) and last traded at GBX 126.75 ($1.59). Approximately 23,115,873 shares traded hands during mid-day trading, an increase of 1,015% from the average daily volume of 2,073,928 shares. The stock had previously closed at GBX 144 ($1.81).

Wall Street Analyst Weigh In

Several brokerages have commented on SQZ. Canaccord Genuity Group reiterated a “buy” rating and set a GBX 200 ($2.52) target price on shares of Serica Energy in a research report on Thursday, January 23rd. Berenberg Bank reaffirmed a “buy” rating and set a GBX 200 ($2.52) price objective on shares of Serica Energy in a research note on Tuesday.

Serica Energy Stock Up 0.2 %

The firm has a market cap of £646.83 million, a P/E ratio of -90.46, a price-to-earnings-growth ratio of 2.15 and a beta of 0.44. The firm’s 50 day moving average is GBX 141.90 and its two-hundred day moving average is GBX 135.60. The company has a current ratio of 1.69, a quick ratio of 1.22 and a debt-to-equity ratio of 26.31.

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.