EnQuest (OTCMKTS:ENQUF) Reaches New 12-Month High – Should You Buy?

Shares of EnQuest (OTCMKTS:ENQUF) hit a new 52-week high on Thursday . The stock traded as high as $0.3375 and last traded at $0.3375, with a volume of 2517 shares traded. The stock had previously closed at $0.2478.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Jefferies Financial Group restated a “buy” rating on shares of EnQuest in a research note on Friday, June 5th. Zacks Research upgraded EnQuest to a “hold” rating in a research note on Friday, April 10th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, EnQuest currently has a consensus rating of “Moderate Buy”.

EnQuest Trading Up 36.2%

The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.68 and a current ratio of 0.72. The company has a 50 day simple moving average of $0.26 and a two-hundred day simple moving average of $0.21.

About EnQuest

EnQuest plc is an independent oil and gas production company with core operations in the UK North Sea and Malaysia. The company focuses on the exploration, development and production of both onshore and offshore hydrocarbon reserves. In the UK, EnQuest’s portfolio includes a range of mature and brownfield assets such as the Magnus, Thistle, Thistle Alpha North and Kraken fields, where it applies enhanced recovery techniques to extend field life and optimise production. In Malaysia, EnQuest operates through its subsidiary, managing assets such as the North Sabah fields under production sharing contracts.

Founded in 2010 through the consolidation of Petrofac’s North Sea assets, EnQuest has grown through a combination of strategic acquisitions and in-house development projects.