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

Serica Energy plc (LON:SQZ - Get Free Report)'s share price was down 11.3% during trading on Wednesday . The stock traded as low as GBX 121.98 ($1.55) and last traded at GBX 127.80 ($1.62). Approximately 10,925,269 shares changed hands during mid-day 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).

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Canaccord Genuity Group reiterated a "buy" rating and set a GBX 200 ($2.53) price objective on shares of Serica Energy in a report on Thursday, January 23rd. Berenberg Bank restated a "buy" rating and set a GBX 200 ($2.53) target price on shares of Serica Energy in a report on Tuesday.

Serica Energy Stock Up 1.0 %

The business's 50 day moving average price is GBX 141.75 and its 200-day moving average price is GBX 135.65. 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 company has a market cap of £650.03 million, a P/E ratio of -90.90, a PEG ratio of 2.15 and a beta of 0.44.

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.