Serica Energy (LON:SQZ) Shares Cross Above 200 Day Moving Average – Here’s What Happened

Serica Energy plc (LON:SQZ)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 254.37 and traded as high as GBX 265.60. Serica Energy shares last traded at GBX 263.40, with a volume of 993,061 shares changing hands.

Wall Street Analysts Forecast Growth

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

Serica Energy Stock Up 1.7%

The company has a current ratio of 1.42, a quick ratio of 1.22 and a debt-to-equity ratio of 47.47. The stock has a 50 day simple moving average of GBX 241.24 and a 200 day simple moving average of GBX 254.67. The firm has a market capitalization of £1.05 billion, a PE ratio of -19.98, a PEG ratio of 2.15 and a beta of 0.05.

Serica Energy (LON:SQZ) last released its quarterly earnings data on Thursday, August 6th. The company reported GBX 2 earnings per share for the quarter. Serica Energy had a negative return on equity of 0.62% and a negative net margin of 0.27%. As a group, sell-side analysts forecast that Serica Energy plc will post 30.373444 earnings per share 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. 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.