Serica Energy (LON:SQZ) Shares Down 11.3% - Here's What Happened

Shares of Serica Energy plc (LON:SQZ - Get Free Report) fell 11.3% during trading on Tuesday . The company traded as low as GBX 121.98 ($1.54) and last traded at GBX 127.80 ($1.61). 10,925,269 shares were traded during mid-day trading, an increase of 537% from the average session volume of 1,715,381 shares. The stock had previously closed at GBX 144 ($1.82).

Wall Street Analyst Weigh In

A number of research analysts have weighed in on SQZ shares. Berenberg Bank reissued a "buy" rating and issued a GBX 200 ($2.53) target price on shares of Serica Energy in a research note on Tuesday. Canaccord Genuity Group reissued a "buy" rating and set a GBX 200 ($2.53) price objective on shares of Serica Energy in a research note on Thursday, January 23rd.

Serica Energy Stock Up 1.0 %

The stock has a market capitalization 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 debt-to-equity ratio of 26.31, a current ratio of 1.69 and a quick ratio of 1.22. The business has a fifty day moving average of GBX 141.64 and a 200 day moving average of GBX 135.65.

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.