Serica Energy (LON:SQZ) Shares Down 10.9% – Should You Sell?

Serica Energy plc (LON:SQZ)’s share price traded down 10.9% during mid-day trading on Wednesday . The stock traded as low as GBX 182 ($2.44) and last traded at GBX 190.20 ($2.55). 69,815,070 shares changed hands during mid-day trading, an increase of 2,794% from the average session volume of 2,412,183 shares. The stock had previously closed at GBX 213.50 ($2.87).

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Shore Capital reaffirmed a “buy” rating on shares of Serica Energy in a research note on Wednesday, September 10th. Canaccord Genuity Group upped their price objective on Serica Energy from GBX 215 to GBX 240 and gave the company 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 research note on Tuesday, August 5th. Peel Hunt reaffirmed a “buy” rating and issued a GBX 207 price objective on shares of Serica Energy in a research note on Tuesday, September 30th. Finally, JPMorgan Chase & Co. reiterated a “buy” rating and issued a GBX 215 price target on shares of Serica Energy in a research report on Wednesday, August 13th. Six analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Serica Energy has a consensus rating of “Buy” and an average target price of GBX 212.

Serica Energy Price Performance

The business has a 50-day simple moving average of GBX 173.34 and a 200 day simple moving average of GBX 156.26. The stock has a market cap of £749.40 million, a P/E ratio of -2,398.70, a price-to-earnings-growth ratio of 2.15 and a beta of 0.44. 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.