Serica Energy (LON:SQZ) Shares Pass Below Two Hundred Day Moving Average – Here’s What Happened

Serica Energy plc (LON:SQZ)’s share price crossed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of GBX 177.97 and traded as low as GBX 171.88. Serica Energy shares last traded at GBX 172, with a volume of 1,094,817 shares changing hands.

Analyst Ratings Changes

SQZ has been the subject of a number of research reports. Panmure Gordon lowered their price target on shares of Serica Energy from GBX 270 to GBX 238 and set a “buy” rating for the company in a report on Tuesday, December 2nd. Peel Hunt reaffirmed a “buy” rating and issued a GBX 207 target price on shares of Serica Energy in a research note on Tuesday, November 4th. Shore Capital reiterated a “buy” rating and set a GBX 230 price target on shares of Serica Energy in a research report on Friday, November 28th. Canaccord Genuity Group increased their price objective on shares of Serica Energy from GBX 215 to GBX 240 and gave the company a “buy” rating in a report on Friday, October 3rd. Finally, Jefferies Financial Group raised their price objective on shares of Serica Energy from GBX 190 to GBX 230 and gave the company a “buy” rating in a research note on Monday, October 20th. Seven equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Serica Energy has an average rating of “Buy” and a consensus price target of GBX 222.86.

Serica Energy Stock Performance

The stock has a market cap of £674.13 million, a P/E ratio of -21.58, a PEG ratio of 2.15 and a beta of 0.44. The stock has a fifty day simple moving average of GBX 190.35 and a 200-day simple moving average of GBX 177.94. The company has a quick ratio of 1.22, a current ratio of 1.69 and a debt-to-equity ratio of 26.31.

Insiders Place Their Bets

In other news, insider Chris Cox acquired 64,007 shares of the firm’s stock in a transaction that occurred on Tuesday, December 16th. The stock was purchased at an average price of GBX 170 per share, for a total transaction of £108,811.90. 63.80% of the stock is owned by insiders.

About Serica Energy

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. It also has 50% interest in the Columbus development; and 20% interest in the Skerryvore and Ruvaal prospects located in Central North Sea, as well as 100% interest in the North and South Eigg exploration prospects located in the Northern North Sea.