Serica Energy (LON:SQZ) Shares Cross Below 200-Day Moving Average – Here’s Why

Shares of Serica Energy plc (LON:SQZ) passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of GBX 177.97 and traded as low as GBX 171.88. Serica Energy shares last traded at GBX 172, with a volume of 1,094,817 shares trading hands.

Analyst Ratings Changes

Several research firms have issued reports on SQZ. Shore Capital reiterated a “buy” rating and set a GBX 230 price objective on shares of Serica Energy in a research note on Friday, November 28th. Peel Hunt reiterated a “buy” rating and set a GBX 207 target price on shares of Serica Energy in a research report on Tuesday, November 4th. Panmure Gordon cut their price target on shares of Serica Energy from GBX 270 to GBX 238 and set a “buy” rating for the company in a report on Tuesday, December 2nd. Jefferies Financial Group upped their price objective on shares of Serica Energy from GBX 190 to GBX 230 and gave the stock a “buy” rating in a research note on Monday, October 20th. Finally, Canaccord Genuity Group raised their price objective on shares of Serica Energy from GBX 215 to GBX 240 and gave the stock a “buy” rating in a report on Friday, October 3rd. Seven investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of GBX 222.86.

Serica Energy Trading Up 0.3%

The company’s 50-day moving average is GBX 190.55 and its 200-day moving average is GBX 177.97. 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 has a market cap of £674.05 million, a price-to-earnings ratio of -21.58, a P/E/G ratio of 2.15 and a beta of 0.44.

Insider Activity

In related news, insider Chris Cox bought 64,007 shares of Serica Energy stock in a transaction dated Tuesday, December 16th. The shares were bought at an average cost of GBX 170 per share, for a total transaction of £108,811.90. Insiders own 63.80% of the company’s stock.

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. It also has 50% interest in the Columbus development; and 20% interest in the Skerryvore and Ruvaal prospects located in Central North Sea, as well as 100% interest in the North and South Eigg exploration prospects located in the Northern North Sea.