Serica Energy (LON:SQZ) Trading Up 8.4% - What's Next?

Serica Energy plc (LON:SQZ - Get Free Report) shares shot up 8.4% during mid-day trading on Tuesday . The stock traded as high as GBX 147 ($1.89) and last traded at GBX 145.20 ($1.87). 3,347,482 shares traded hands during mid-day 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 Upgrades and Downgrades

SQZ has been the subject of several recent analyst reports. Berenberg Bank restated a "buy" rating and issued a GBX 200 ($2.58) target price on shares of Serica Energy in a research note on Tuesday, February 18th. Canaccord Genuity Group restated a "buy" rating and issued a GBX 200 ($2.58) price objective on shares of Serica Energy in a research report on Thursday, January 23rd.

Serica Energy Stock Down 7.5 %

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 £612.09 million, a PE ratio of -85.60, a price-to-earnings-growth ratio of 2.15 and a beta of 0.44. The firm's 50-day simple moving average is GBX 134.35 and its 200 day simple moving average is GBX 136.54.

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

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Serica Energy Increases Dividend

The company also recently disclosed a dividend, which will be paid on Friday, July 25th. Investors of record on Thursday, June 26th will be paid a dividend of GBX 10 ($0.13) per share. This is an increase from Serica Energy's previous dividend of $9.00. The ex-dividend date of this dividend is Thursday, June 26th. This represents a dividend yield of 7.45%. Serica Energy's dividend payout ratio is presently -1,585.15%.

Serica Energy Company Profile

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.