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

Serica Energy plc (LON:SQZ) fell 11.3% during mid-day trading on Wednesday . The stock traded as low as GBX 121.98 ($1.55) and last traded at GBX 127.80 ($1.62). 10,925,269 shares were traded during mid-day trading, an increase of 537% from the average session volume of 1,715,381 shares. The stock had previously closed at GBX 144 ($1.82).

Analyst Upgrades and Downgrades

A number of brokerages have commented on SQZ. Berenberg Bank reaffirmed a “buy” rating and set a GBX 200 ($2.53) price target on shares of Serica Energy in a research report on Tuesday. Canaccord Genuity Group reaffirmed a “buy” rating and set a GBX 200 ($2.53) target price on shares of Serica Energy in a report on Thursday, January 23rd.

Serica Energy Trading Up 2.6 %

The stock has a market cap of £660.38 million, a PE ratio of -92.35, a PEG ratio of 2.15 and a beta of 0.44. The company’s fifty day moving average is GBX 141.75 and its 200-day moving average is GBX 135.65. The company has a debt-to-equity ratio of 26.31, a current ratio of 1.69 and a quick ratio of 1.22.

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.