EnQuest (LON:ENQ) Hits New 12-Month High – Still a Buy?

Shares of EnQuest PLC (LON:ENQ) hit a new 52-week high during mid-day trading on Tuesday. The company traded as high as GBX 30.60 and last traded at GBX 30.60, with a volume of 5,873,616 shares traded. The stock had previously closed at GBX 29.70.

Wall Street Analysts Forecast Growth

ENQ has been the topic of several research reports. Canaccord Genuity Group lowered shares of EnQuest to a “buy” rating and lowered their price objective for the stock from GBX 50 to GBX 48 in a research report on Friday, September 4th. Shore Capital Group reaffirmed a “house stock” rating and set a GBX 41 target price on shares of EnQuest in a report on Thursday, September 3rd. Finally, JPMorgan Chase & Co. upped their price target on shares of EnQuest from GBX 29 to GBX 35 and gave the stock an “overweight” rating in a report on Friday, July 3rd. Three investment analysts have rated the stock with a Buy rating. Based on data from MarketBeat, EnQuest currently has an average rating of “Buy” and an average target price of GBX 34.60.

EnQuest Stock Up 3.0%

The stock’s 50 day moving average price is GBX 26.02 and its 200-day moving average price is GBX 23.03. The company has a market cap of £569.49 million, a PE ratio of 4.19, a PEG ratio of 0.07 and a beta of 0.02. The company has a debt-to-equity ratio of 231.41, a quick ratio of 0.75 and a current ratio of 0.64.

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).