EnQuest (LON:ENQ) Shares Up 6.7% – Here’s Why

EnQuest PLC (LON:ENQ) shares rose 6.7% on Friday . The company traded as high as GBX 25.65 and last traded at GBX 25.50. 14,754,142 shares were traded during mid-day trading, an increase of 6% from the average session volume of 13,890,588 shares. The stock had previously closed at GBX 23.90.

Analyst Upgrades and Downgrades

Several research firms have commented on ENQ. Jefferies Financial Group reaffirmed a “restricted” rating and set a GBX 25 price target on shares of EnQuest in a research report on Thursday, June 11th. JPMorgan Chase & Co. raised their target price on shares of EnQuest from GBX 29 to GBX 35 and gave the stock an “overweight” rating in a research report on Friday, July 3rd. Finally, Shore Capital Group reaffirmed a “buy” rating on shares of EnQuest in a report on Thursday, April 23rd. Four equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of GBX 26.40.

EnQuest Trading Up 6.7%

The company has a market cap of £474.58 million, a price-to-earnings ratio of 255.00, a P/E/G ratio of 0.07 and a beta of 0.02. The business has a fifty day simple moving average of GBX 21.57 and a 200 day simple moving average of GBX 17.98. The company has a quick ratio of 0.75, a current ratio of 0.72 and a debt-to-equity ratio of 204.44.

EnQuest Company Profile

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).