Serica Energy (LON:SQZ) Trading Down 10.4% – Here’s Why

Serica Energy plc (LON:SQZ)’s stock price fell 10.4% during trading on Tuesday . The stock traded as low as GBX 121.98 ($1.54) and last traded at GBX 129.10 ($1.63). 23,878,297 shares traded hands during trading, an increase of 1,039% from the average session volume of 2,096,352 shares. The stock had previously closed at GBX 144 ($1.82).

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on SQZ. Canaccord Genuity Group reissued a “buy” rating and set a GBX 200 ($2.52) price target on shares of Serica Energy in a research note on Thursday, January 23rd. Berenberg Bank reiterated a “buy” rating and set a GBX 200 ($2.52) target price on shares of Serica Energy in a research report on Tuesday.

Serica Energy Price Performance

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 company has a market capitalization of £629.83 million, a price-to-earnings ratio of -88.08, a price-to-earnings-growth ratio of 2.15 and a beta of 0.44. The company has a 50-day moving average price of GBX 141.93 and a 200-day moving average price 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.