Serica Energy (LON:SQZ) Trading 8.4% Higher - Here's Why

Serica Energy plc (LON:SQZ - Get Free Report) shares rose 8.4% on Wednesday . The company traded as high as GBX 147 ($1.89) and last traded at GBX 145.20 ($1.87). Approximately 3,347,482 shares traded hands during trading, an increase of 33% from the average daily volume of 2,514,716 shares. The stock had previously closed at GBX 134 ($1.73).

Analyst Ratings Changes

A number of research firms recently issued reports on SQZ. Canaccord Genuity Group reissued a "buy" rating and issued a GBX 200 ($2.58) price target on shares of Serica Energy in a research note on Thursday, January 23rd. Berenberg Bank restated a "buy" rating and set a GBX 200 ($2.58) price target on shares of Serica Energy in a research report on Tuesday, February 18th.

Serica Energy Stock 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 business's 50-day moving average is GBX 134.35 and its 200-day moving average is GBX 136.54. The company has a market capitalization of £612.09 million, a PE ratio of -85.60, a PEG ratio of 2.15 and a beta of 0.44.

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

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Serica Energy Increases Dividend

The business also recently announced a dividend, which will be paid on Friday, July 25th. Stockholders of record on Thursday, June 26th will be paid a GBX 10 ($0.13) dividend. This is a boost from Serica Energy's previous dividend of $9.00. This represents a dividend yield of 7.45%. The ex-dividend date is Thursday, June 26th. Serica Energy's dividend payout ratio is currently -1,585.15%.

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.