EnQuest (LON:ENQ) Shares Down 1.9% – Here’s What Happened

EnQuest PLC (LON:ENQ) dropped 1.9% on Tuesday. The company traded as low as GBX 25.15 and last traded at GBX 25.85. Approximately 10,585,968 shares were traded during mid-day trading, a decline of 15% from the average session volume of 12,471,331 shares. The stock had previously closed at GBX 26.35.

Wall Street Analysts Forecast Growth

ENQ has been the topic of several recent analyst reports. Shore Capital Group reiterated a “house stock” rating and set a GBX 41 price target on shares of EnQuest in a research report on Thursday, September 3rd. Canaccord Genuity Group lowered EnQuest to a “buy” rating and cut their price objective for the stock from GBX 50 to GBX 48 in a report on Friday, September 4th. Two analysts have rated the stock with a Buy rating. According to data from MarketBeat.com, EnQuest currently has a consensus rating of “Buy” and an average target price of GBX 37.25.

EnQuest Stock Down 1.9%

The stock’s fifty day moving average price is GBX 28.27 and its 200 day moving average price is GBX 22.29. The company has a current ratio of 0.64, a quick ratio of 0.75 and a debt-to-equity ratio of 231.41. The stock has a market cap of £481.09 million, a P/E ratio of 3.54, a price-to-earnings-growth ratio of 0.07 and a beta of 0.02.

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).