Serica Energy (LON:SQZ) Stock Passes Below 200-Day Moving Average – Time to Sell?

Shares of Serica Energy plc (LON:SQZ) crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 239.97 and traded as low as GBX 223.60. Serica Energy shares last traded at GBX 223.60, with a volume of 818,877 shares traded.

Wall Street Analysts Forecast Growth

SQZ has been the topic of a number of analyst reports. Shore Capital Group restated a “buy” rating on shares of Serica Energy in a research note on Thursday, March 26th. Stifel Nicolaus increased their price objective on Serica Energy from GBX 266 to GBX 281 and gave the stock a “buy” rating in a research report on Tuesday, March 31st. Canaccord Genuity Group increased their price objective on Serica Energy from GBX 230 to GBX 310 and gave the stock a “buy” rating in a research report on Monday, March 30th. Berenberg Bank reissued a “buy” rating and issued a GBX 350 target price on shares of Serica Energy in a report on Tuesday, June 2nd. Finally, Jefferies Financial Group restated a “buy” rating and set a GBX 310 target price on shares of Serica Energy in a research report on Tuesday, June 2nd. Eight research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of GBX 268.25.

Serica Energy Stock Performance

The stock’s 50-day moving average price is GBX 253.15 and its 200-day moving average price is GBX 239.83. The company has a market capitalization of £859.22 million, a price-to-earnings ratio of -16.92, a P/E/G ratio of 2.15 and a beta of 0.05. The company has a debt-to-equity ratio of 33.93, a quick ratio of 1.22 and a current ratio of 1.14.

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.