Serica Energy (LON:SQZ) Shares Down 10.6% – Time to Sell?

Serica Energy plc (LON:SQZ)’s share price dropped 10.6% during mid-day trading on Tuesday . The company traded as low as GBX 121.98 ($1.53) and last traded at GBX 128.80 ($1.62). Approximately 23,487,631 shares were traded during mid-day trading, an increase of 1,027% from the average daily volume of 2,084,862 shares. The stock had previously closed at GBX 144 ($1.81).

Analyst Upgrades and Downgrades

SQZ has been the topic of a number of recent analyst reports. 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. 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.

Serica Energy Price Performance

The business’s 50 day moving average is GBX 141.90 and its two-hundred day moving average is GBX 135.60. 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 capitalization of £643.63 million, a PE ratio of -90.01, a P/E/G 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.