Deltic Energy (LON:DELT) Shares Down 20.9% – Here’s Why

Deltic Energy Plc (LON:DELT)’s share price fell 20.9% on Thursday . The company traded as low as GBX 6.05 ($0.08) and last traded at GBX 6.13 ($0.08). 2,067,031 shares were traded during mid-day trading, an increase of 308% from the average session volume of 507,010 shares. The stock had previously closed at GBX 7.75 ($0.10).

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group reduced their price objective on shares of Deltic Energy from GBX 95 ($1.23) to GBX 85 ($1.10) and set a “speculative buy” rating on the stock in a research report on Thursday, September 26th.

Deltic Energy Price Performance

The company has a current ratio of 1.70, a quick ratio of 30.42 and a debt-to-equity ratio of 3.02. The company has a market capitalization of £6.14 million, a PE ratio of -33.70 and a beta of 1.63. The stock’s 50-day moving average is GBX 7.46 and its two-hundred day moving average is GBX 12.56.

Deltic Energy Company Profile

Deltic Energy Plc, a natural resources investing company, engages in the exploration, evaluation, and development of oil and gas licenses. It holds licenses in the Southern and Central North Sea. The company was formerly known as Cluff Natural Resources Plc and changed its name to Deltic Energy Plc in June 2020.