Serica Energy (LON:SQZ) Shares Up 8.4% – Still a Buy?

Serica Energy plc (LON:SQZ) shares rose 8.4% during mid-day trading on Tuesday . The stock traded as high as GBX 147 ($1.93) and last traded at GBX 145.20 ($1.90). Approximately 3,347,482 shares were traded during trading, an increase of 33% from the average daily volume of 2,514,716 shares. The stock had previously closed at GBX 134 ($1.76).

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on SQZ shares. Berenberg Bank reiterated a “buy” rating and issued a GBX 200 ($2.62) price target on shares of Serica Energy in a research note on Tuesday, February 18th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a GBX 200 ($2.62) target price on shares of Serica Energy in a research report on Thursday, January 23rd.

Serica Energy Price Performance

The firm has a 50-day simple moving average of GBX 134.73 and a 200-day simple moving average of GBX 136.58. The firm has a market capitalization of £661.37 million, a PE ratio of -92.49, a PEG ratio of 2.15 and a beta of 0.44. The company has a debt-to-equity ratio of 26.31, a current ratio of 1.69 and a quick ratio of 1.22.

Serica Energy (LON:SQZ) last posted its quarterly earnings data on Tuesday, April 1st. The company reported GBX 0.24 ($0.00) earnings per share (EPS) for the quarter. Serica Energy had a negative net margin of 1.09% and a negative return on equity of 1.09%. As a group, equities analysts forecast that Serica Energy plc will post 30.373444 earnings per share for the current year.

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.