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

Serica Energy plc (LON:SQZ)’s share price shot up 8.4% during trading on Tuesday . The stock traded as high as GBX 147 ($1.93) and last traded at GBX 145.20 ($1.90). 3,347,482 shares were traded during trading, an increase of 33% from the average session volume of 2,514,716 shares. The stock had previously closed at GBX 134 ($1.76).

Analysts Set New Price Targets

Several analysts have weighed in on SQZ shares. Berenberg Bank reaffirmed a “buy” rating and issued a GBX 200 ($2.62) price target on shares of Serica Energy in a report on Tuesday, February 18th. Canaccord Genuity Group restated a “buy” rating and issued a GBX 200 ($2.62) price objective on shares of Serica Energy in a research report on Thursday, January 23rd.

Serica Energy Stock Performance

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 stock has a market cap of £661.37 million, a PE ratio of -92.49, a PEG ratio of 2.15 and a beta of 0.44. The company’s 50-day moving average price is GBX 134.73 and its two-hundred day moving average price is GBX 136.58.

Serica Energy (LON:SQZ) last released its 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%. On average, equities research analysts forecast that Serica Energy plc will post 30.373444 EPS for the current 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.