EnQuest (LON:ENQ) Trading Down 8.9% – Here’s Why

EnQuest PLC (LON:ENQ) shares traded down 8.9% during trading on Wednesday . The stock traded as low as GBX 17.62 and last traded at GBX 19. 78,245,922 shares traded hands during mid-day trading, an increase of 665% from the average session volume of 10,234,763 shares. The stock had previously closed at GBX 20.85.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Jefferies Financial Group reissued a “buy” rating and issued a GBX 15 target price on shares of EnQuest in a report on Wednesday, February 4th. Shore Capital Group reissued a “buy” rating on shares of EnQuest in a report on Wednesday, March 25th. Finally, JPMorgan Chase & Co. boosted their target price on EnQuest from GBX 24 to GBX 25 and gave the stock an “overweight” rating in a report on Wednesday. Five analysts have rated the stock with a Buy rating, According to MarketBeat, EnQuest presently has an average rating of “Buy” and an average target price of GBX 22.40.

EnQuest Stock Down 8.9%

The firm has a market capitalization of £353.61 million, a price-to-earnings ratio of 190.00, a P/E/G ratio of 0.07 and a beta of 0.25. The company has a current ratio of 0.72, a quick ratio of 0.75 and a debt-to-equity ratio of 204.44. The firm has a fifty day moving average price of GBX 16.99 and a 200 day moving average price of GBX 13.10.

About EnQuest

EnQuest is providing creative solutions through the energy transition.

EnQuest is an independent energy company. We focus on mature late-life assets, responsibly optimising production to provide energy security. Where we can, we repurpose our infrastructure to deliver renewable energy and decarbonisation projects before executing world-class decommissioning.

Shares in the Company trade on the London Stock Exchange (ENQ.L).