Serica Energy (LON:SQZ) Stock Price Down 11.3% – Here’s Why

Serica Energy plc (LON:SQZ) shares were down 11.3% during mid-day trading on Tuesday . 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

Several equities analysts have issued reports on SQZ shares. Berenberg Bank reiterated a “buy” rating and issued a GBX 200 ($2.52) target price on shares of Serica Energy in a research note on Tuesday. Canaccord Genuity Group reissued 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 Performance

The company has a debt-to-equity ratio of 26.31, a current ratio of 1.69 and a quick ratio of 1.22. The firm has a market cap of £629.83 million, a price-to-earnings ratio of -88.08, a P/E/G ratio of 2.15 and a beta of 0.44. The firm has a fifty day simple moving average of GBX 141.93 and a two-hundred day simple moving average of GBX 135.65.

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.