Serica Energy (LON:SQZ) Stock Price Passes Above 50 Day Moving Average – Should You Sell?

Serica Energy plc (LON:SQZ) shares passed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of GBX 252.94 and traded as high as GBX 269.20. Serica Energy shares last traded at GBX 258, with a volume of 1,649,673 shares.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Berenberg Bank reaffirmed a “buy” rating and set a GBX 300 price objective on shares of Serica Energy in a report on Thursday, March 26th. Canaccord Genuity Group lifted their target price on shares of Serica Energy from GBX 230 to GBX 310 and gave the stock a “buy” rating in a research note on Monday, March 30th. Stifel Nicolaus boosted their price target on shares of Serica Energy from GBX 266 to GBX 281 and gave the company a “buy” rating in a research report on Tuesday, March 31st. Finally, Shore Capital Group restated a “buy” rating on shares of Serica Energy in a research note on Thursday, March 26th. Eight investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Serica Energy currently has an average rating of “Buy” and a consensus target price of GBX 252.

Serica Energy Price Performance

The business has a fifty day moving average of GBX 252.94 and a 200-day moving average of GBX 213.12. The company has a current ratio of 1.14, a quick ratio of 1.22 and a debt-to-equity ratio of 33.93. The firm has a market cap of £1.01 billion, a PE ratio of -19.84, a PEG ratio of 2.15 and a beta of 0.05.

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.