EnQuest (LON:ENQ) Hits New 12-Month High – Here’s Why

EnQuest PLC (LON:ENQ) shares hit a new 52-week high during mid-day trading on Wednesday. The company traded as high as GBX 27.95 and last traded at GBX 27.20, with a volume of 3477718 shares changing hands. The stock had previously closed at GBX 27.40.

Analyst Ratings Changes

A number of research firms have recently issued reports on ENQ. Shore Capital Group reiterated a “house stock” rating and issued a GBX 41 price objective on shares of EnQuest in a report on Thursday, September 3rd. Canaccord Genuity Group downgraded shares of EnQuest to a “buy” rating and reduced their price target for the company from GBX 50 to GBX 48 in a research report on Friday, September 4th. JPMorgan Chase & Co. boosted their price objective on shares of EnQuest from GBX 29 to GBX 35 and gave the company an “overweight” rating in a report on Friday, July 3rd. Finally, Jefferies Financial Group reiterated a “restricted” rating and set a GBX 25 target price on shares of EnQuest in a research note on Thursday, June 11th. Three analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of GBX 34.60.

EnQuest Stock Performance

The company has a market cap of £506.21 million, a PE ratio of 3.73, a PEG ratio of 0.07 and a beta of 0.02. The firm’s 50 day moving average is GBX 25.65 and its 200-day moving average is GBX 22.78. The company has a debt-to-equity ratio of 231.41, a quick ratio of 0.75 and a current ratio of 0.64.

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).