Serica Energy (LON:SQZ) Share Price Passes Above Two Hundred Day Moving Average – Here’s Why

Serica Energy plc (LON:SQZ)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 248.92 and traded as high as GBX 249. Serica Energy shares last traded at GBX 239.20, with a volume of 1,167,137 shares.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Berenberg Bank reissued a “buy” rating and issued a GBX 365 price target on shares of Serica Energy in a report on Thursday, August 6th. Canaccord Genuity Group reaffirmed a “buy” rating and set a GBX 340 price objective on shares of Serica Energy in a research note on Monday, July 27th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a GBX 310 price objective on shares of Serica Energy in a research report on Tuesday, June 2nd. Seven equities research analysts have rated the stock with a Buy rating, According to MarketBeat, Serica Energy currently has an average rating of “Buy” and a consensus target price of GBX 282.29.

Serica Energy Stock Up 3.6%

The company has a quick ratio of 1.22, a current ratio of 1.42 and a debt-to-equity ratio of 47.47. The firm has a market cap of £967.80 million, a PE ratio of -19.06, a P/E/G ratio of 2.15 and a beta of 0.05. The firm’s 50 day moving average is GBX 237.44 and its 200-day moving average is GBX 248.91.

Serica Energy (LON:SQZ) last announced its earnings results on Thursday, August 6th. The company reported GBX 2 earnings per share (EPS) for the quarter. Serica Energy had a negative net margin of 3.63% and a negative return on equity of 7.80%. As a group, equities research analysts expect that Serica Energy plc will post 30.373444 earnings per share for the current fiscal 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. 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.