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

Serica Energy plc (LON:SQZ)’s stock price was up 8.4% on Tuesday . The company traded as high as GBX 147 ($1.93) and last traded at GBX 145.20 ($1.90). 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 ($1.76).

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Canaccord Genuity Group reaffirmed a “buy” rating and set a GBX 200 ($2.62) target price on shares of Serica Energy in a research report on Thursday, January 23rd. Berenberg Bank restated a “buy” rating and set a GBX 200 ($2.62) price objective on shares of Serica Energy in a research note on Tuesday, February 18th.

Serica Energy Stock Performance

The company’s fifty day simple moving average is GBX 134.73 and its two-hundred day simple moving average is GBX 136.58. The company has a market capitalization of £661.37 million, a price-to-earnings ratio of -92.49, 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 quick ratio of 1.22 and a current ratio of 1.69.

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