Serica Energy (LON:SQZ) Stock Crosses Above 200-Day Moving Average – Here’s Why

Serica Energy plc (LON:SQZ)’s share price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 226.01 and traded as high as GBX 289.20. Serica Energy shares last traded at GBX 279, with a volume of 19,691,746 shares.

Analysts Set New Price Targets

Several research firms recently issued reports on SQZ. Berenberg Bank reissued a “buy” rating and issued a GBX 300 target price on shares of Serica Energy in a report on Thursday, March 26th. Stifel Nicolaus increased their target price on shares of Serica Energy from GBX 266 to GBX 281 and gave the stock a “buy” rating in a report on Tuesday, March 31st. Shore Capital Group reissued a “buy” rating on shares of Serica Energy in a report on Thursday, March 26th. Canaccord Genuity Group increased their target price on shares of Serica Energy from GBX 230 to GBX 310 and gave the stock a “buy” rating in a report on Monday, March 30th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a GBX 250 target price on shares of Serica Energy in a report on Friday, April 24th. Eight investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Serica Energy presently has a consensus rating of “Buy” and an average price target of GBX 254.50.

Serica Energy Stock Down 2.8%

The company has a current ratio of 1.14, a quick ratio of 1.22 and a debt-to-equity ratio of 33.93. The firm has a market capitalization of £1.04 billion, a P/E ratio of -20.42, a P/E/G ratio of 2.15 and a beta of 0.05. The company has a 50 day simple moving average of GBX 271.56 and a two-hundred day simple moving average of GBX 226.68.

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.