Serica Energy (LON:SQZ) Shares 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. Berenberg Bank reaffirmed a "buy" rating and set a GBX 200 ($2.53) price target on shares of Serica Energy in a research report on Tuesday. Canaccord Genuity Group reaffirmed a "buy" rating and set a GBX 200 ($2.53) price target on shares of Serica Energy in a research report on Thursday, January 23rd.

Serica Energy Stock Up 1.0 %

The firm's fifty day moving average price is GBX 141.75 and its two-hundred day moving average price is GBX 135.65. The stock has a market cap of £650.03 million, a price-to-earnings ratio of -90.90, a price-to-earnings-growth 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.

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.