Serica Energy (LON:SQZ) Shares Down 15.3% – Time to Sell?

Serica Energy plc (LON:SQZ) shares fell 15.3% during mid-day trading on Wednesday . The stock traded as low as GBX 146 ($1.98) and last traded at GBX 150.60 ($2.05). 29,118,072 shares traded hands during trading, an increase of 1,257% from the average session volume of 2,146,250 shares. The stock had previously closed at GBX 177.80 ($2.41).

Analyst Upgrades and Downgrades

Several research firms have issued reports on SQZ. JPMorgan Chase & Co. reiterated a “buy” rating and set a GBX 215 price objective on shares of Serica Energy in a research note on Wednesday, August 13th. Shore Capital reissued a “buy” rating on shares of Serica Energy in a research report on Wednesday. Jefferies Financial Group reissued a “buy” rating and set a GBX 190 target price on shares of Serica Energy in a research report on Tuesday, August 5th. Finally, Canaccord Genuity Group reissued a “buy” rating and set a GBX 190 target price on shares of Serica Energy in a research report on Thursday, July 31st. Five equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of GBX 203.

Serica Energy Stock Up 5.9%

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 firm’s fifty day moving average is GBX 168.84 and its 200-day moving average is GBX 149.76. The stock has a market capitalization of £627.98 million, a price-to-earnings ratio of -2,010.04, a PEG ratio of 2.15 and a beta of 0.44.

Insiders Place Their Bets

In other Serica Energy news, insider Martin Copeland bought 45,000 shares of the stock in a transaction on Thursday, July 3rd. The stock was purchased at an average price of GBX 161 per share, for a total transaction of £72,450. 63.80% of the stock is currently owned by insiders.

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.