Serica Energy (LON:SQZ) Trading Down 10.4% – What’s Next?

Shares of Serica Energy plc (LON:SQZ) fell 10.4% on Tuesday . The company traded as low as GBX 121.98 ($1.54) and last traded at GBX 129.10 ($1.63). 23,878,297 shares changed hands during trading, an increase of 1,039% from the average session volume of 2,096,352 shares. The stock had previously closed at GBX 144 ($1.82).

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Berenberg Bank reiterated a “buy” rating and issued a GBX 200 ($2.52) price objective on shares of Serica Energy in a research report on Tuesday. Canaccord Genuity Group reaffirmed a “buy” rating and issued a GBX 200 ($2.52) price target on shares of Serica Energy in a report on Thursday, January 23rd.

Serica Energy Stock Down 11.3 %

The firm’s 50-day moving average is GBX 141.93 and its two-hundred day moving average is GBX 135.65. The company has a debt-to-equity ratio of 26.31, a quick ratio of 1.22 and a current ratio of 1.69. The stock has a market cap of £629.83 million, a P/E ratio of -88.08, 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.