Serica Energy (LON:SQZ) Trading Down 10.6% – Here’s Why

Shares of Serica Energy plc (LON:SQZ) dropped 10.6% during trading on Tuesday . The stock traded as low as GBX 121.98 ($1.54) and last traded at GBX 128.80 ($1.62). Approximately 23,487,631 shares were traded during trading, an increase of 1,027% from the average daily volume of 2,084,862 shares. The stock had previously closed at GBX 144 ($1.82).

Analyst Ratings Changes

SQZ has been the subject of several analyst reports. Canaccord Genuity Group reissued a “buy” rating and set a GBX 200 ($2.52) price target on shares of Serica Energy in a research report on Thursday, January 23rd. Berenberg Bank reissued a “buy” rating and set a GBX 200 ($2.52) price target on shares of Serica Energy in a research report on Tuesday.

Serica Energy Stock Performance

The company’s 50-day moving average price is GBX 141.93 and its 200 day moving average price 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 capitalization of £629.83 million, a PE 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.