Serica Energy (LON:SQZ) Trading 8.4% Higher – Here’s What Happened

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

Analyst Ratings Changes

A number of brokerages recently issued reports on SQZ. Canaccord Genuity Group reiterated a “buy” rating and set a GBX 200 ($2.59) target price on shares of Serica Energy in a research report on Thursday, January 23rd. Berenberg Bank reaffirmed a “buy” rating and set a GBX 200 ($2.59) price objective on shares of Serica Energy in a report on Tuesday, February 18th.

Serica Energy Stock Up 8.4 %

The stock has a market cap of £715.58 million, a price-to-earnings ratio of -100.07, a PEG ratio of 2.15 and a beta of 0.44. The company has a debt-to-equity ratio of 26.31, a quick ratio of 1.22 and a current ratio of 1.69. The firm’s 50-day simple moving average is GBX 134.97 and its two-hundred day simple moving average is GBX 136.45.

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

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.