Serica Energy (LON:SQZ) Shares Cross Below 200 Day Moving Average – Time to Sell?

Shares of Serica Energy plc (LON:SQZ) passed below its 200-day moving average during trading on Thursday . The stock has a 200-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.

Analysts Set New Price Targets

SQZ has been the subject of several recent analyst reports. Shore Capital Group reiterated a “buy” rating on shares of Serica Energy in a research note on Thursday, March 26th. Jefferies Financial Group reaffirmed a “buy” rating and issued a GBX 310 target price on shares of Serica Energy in a report on Tuesday, June 2nd. Berenberg Bank reiterated a “buy” rating and set a GBX 350 price target on shares of Serica Energy in a research report on Tuesday, June 2nd. Stifel Nicolaus boosted their price target on Serica Energy from GBX 266 to GBX 281 and gave the stock a “buy” rating in a research note on Tuesday, March 31st. Finally, Canaccord Genuity Group upped their price target on Serica Energy from GBX 230 to GBX 310 and gave the stock a “buy” rating in a report on Monday, March 30th. Eight investment analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of GBX 268.25.

Serica Energy Trading Down 1.1%

The company has a market cap of £863.91 million, a price-to-earnings ratio of -17.02, a PEG ratio of 2.15 and a beta of 0.05. The company has a debt-to-equity ratio of 33.93, a current ratio of 1.14 and a quick ratio of 1.22. The business’s 50-day simple moving average is GBX 254.51 and its 200-day simple moving average is GBX 239.97.

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.