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

Serica Energy plc (LON:SQZ - Get Free Report)'s stock price traded down 11.3% during trading on Tuesday . The stock traded as low as GBX 121.98 ($1.55) and last traded at GBX 127.80 ($1.62). 10,925,269 shares traded hands during 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 Analysts Forecast Growth

Several equities research analysts have commented 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 research note on Thursday, January 23rd. Berenberg Bank restated a "buy" rating and issued a GBX 200 ($2.53) price target on shares of Serica Energy in a research report on Tuesday.

Serica Energy Stock Up 1.0 %

The company has a quick ratio of 1.22, a current ratio of 1.69 and a debt-to-equity ratio of 26.31. The business has a 50-day moving average price of GBX 141.75 and a 200-day moving average price of GBX 135.65. The firm has a market capitalization of £650.03 million, a PE ratio of -90.90, a price-to-earnings-growth 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.