Serica Energy (LON:SQZ) Stock Price Down 11.3% - Here's Why

Serica Energy plc (LON:SQZ - Get Free Report) shares dropped 11.3% during trading on Tuesday . The company traded as low as GBX 121.98 ($1.55) and last traded at GBX 127.80 ($1.62). Approximately 10,925,269 shares traded hands during trading, an increase of 537% from the average daily volume of 1,715,381 shares. The stock had previously closed at GBX 144 ($1.82).

Analysts Set New Price Targets

SQZ has been the topic of a number of research analyst reports. Canaccord Genuity Group reiterated a "buy" rating and set a GBX 200 ($2.53) target price on shares of Serica Energy in a research report on Thursday, January 23rd. Berenberg Bank reiterated a "buy" rating and set a GBX 200 ($2.53) target price on shares of Serica Energy in a research report on Tuesday.

Serica Energy Price Performance

The stock has a market cap of £650.03 million, a price-to-earnings ratio of -90.90, a PEG ratio of 2.15 and a beta of 0.44. The company has a 50-day moving average of GBX 141.75 and a 200-day moving average of 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.

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.