Serica Energy (LON:SQZ) Shares Up 8.4% – Here’s Why

Serica Energy plc (LON:SQZ)’s share price shot up 8.4% during mid-day trading on Wednesday . The stock traded as high as GBX 147 ($1.90) and last traded at GBX 145.20 ($1.88). 3,347,482 shares traded hands during trading, an increase of 33% from the average session volume of 2,514,716 shares. The stock had previously closed at GBX 134 ($1.73).

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Canaccord Genuity Group restated a “buy” rating and issued a GBX 200 ($2.59) price target on shares of Serica Energy in a research report on Thursday, January 23rd. Berenberg Bank restated a “buy” rating and issued a GBX 200 ($2.59) target price on shares of Serica Energy in a report on Tuesday, February 18th.

Serica Energy Trading Up 1.5 %

The firm’s 50-day moving average price is GBX 134.97 and its 200 day moving average price is GBX 136.45. The company has a market cap of £726.41 million, a price-to-earnings ratio of -101.59, a P/E/G 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.

Serica Energy (LON:SQZ) last posted its quarterly earnings results on Tuesday, April 1st. The company reported GBX 0.24 ($0.00) EPS for the quarter. Serica Energy had a negative net margin of 1.09% and a negative return on equity of 1.09%. As a group, equities analysts expect that Serica Energy plc will post 30.373444 EPS for the current year.

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.