Serica Energy (LON:SQZ) Shares Up 8.4% – Here’s Why

Serica Energy plc (LON:SQZ) shot up 8.4% during mid-day trading on Tuesday . The company traded as high as GBX 147 ($1.90) and last traded at GBX 145.20 ($1.88). 3,347,482 shares traded hands during mid-day trading, an increase of 33% from the average session volume of 2,514,716 shares. The stock had previously closed at GBX 134 ($1.73).

Analysts Set New Price Targets

Several research analysts have commented on the company. Canaccord Genuity Group restated a “buy” rating and set a GBX 200 ($2.59) price objective on shares of Serica Energy in a report on Thursday, January 23rd. Berenberg Bank restated a “buy” rating and issued a GBX 200 ($2.59) price objective on shares of Serica Energy in a report on Tuesday, February 18th.

Serica Energy Trading Up 8.4 %

The company has a market capitalization of £715.58 million, a PE ratio of -100.07, a price-to-earnings-growth ratio of 2.15 and a beta of 0.44. 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 company’s fifty day moving average is GBX 134.97 and its 200-day moving average is GBX 136.45.

Serica Energy (LON:SQZ) last announced its quarterly earnings results on Tuesday, April 1st. The company reported GBX 0.24 ($0.00) earnings per share (EPS) for the quarter. Serica Energy had a negative return on equity of 1.09% and a negative net margin of 1.09%. On average, analysts anticipate that Serica Energy plc will post 30.373444 EPS for the current fiscal year.

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.