Serica Energy (LON:SQZ) Shares Down 11.3% – Here’s What Happened

Serica Energy plc (LON:SQZ)’s stock price fell 11.3% on Wednesday . The company traded as low as GBX 121.98 ($1.54) and last traded at GBX 127.80 ($1.61). 10,925,269 shares changed 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).

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on SQZ. Berenberg Bank reiterated a “buy” rating and set a GBX 200 ($2.52) target price on shares of Serica Energy in a research report on Tuesday. Canaccord Genuity Group restated a “buy” rating and set a GBX 200 ($2.52) price objective on shares of Serica Energy in a research report on Thursday, January 23rd.

Serica Energy Trading Up 2.2 %

The company has a current ratio of 1.69, a quick ratio of 1.22 and a debt-to-equity ratio of 26.31. The firm has a market capitalization of £643.82 million, a P/E ratio of -90.04, a P/E/G ratio of 2.15 and a beta of 0.44. The firm has a 50-day moving average of GBX 141.93 and a two-hundred day moving average of GBX 135.65.

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.