Serica Energy (LON:SQZ) Stock Price Down 13.5% – What’s Next?

Serica Energy plc (LON:SQZ) shares dropped 13.5% on Wednesday . The company traded as low as GBX 146 ($1.98) and last traded at GBX 153.86 ($2.09). Approximately 27,882,211 shares changed hands during trading, an increase of 1,203% from the average daily volume of 2,139,188 shares. The stock had previously closed at GBX 177.80 ($2.41).

Analyst Upgrades and Downgrades

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

Serica Energy Stock Performance

The stock has a market cap of £627.98 million, a P/E ratio of -2,010.04, a PEG ratio of 2.15 and a beta of 0.44. The stock has a fifty day simple moving average of GBX 168.84 and a 200-day simple moving average of GBX 149.76. 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 Martin Copeland acquired 45,000 shares of the firm’s stock in a transaction that occurred 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 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.