EnQuest (LON:ENQ) Shares Down 7.3% – Here’s What Happened

Shares of EnQuest PLC (LON:ENQ) traded down 7.3% on Thursday . The company traded as low as GBX 17.92 and last traded at GBX 18.04. 147,409,313 shares changed hands during trading, an increase of 1,061% from the average session volume of 12,700,473 shares. The stock had previously closed at GBX 19.46.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ENQ. Jefferies Financial Group reissued a “buy” rating and issued a GBX 15 price objective on shares of EnQuest in a research note on Wednesday, February 4th. Shore Capital Group restated a “buy” rating on shares of EnQuest in a research report on Thursday, April 23rd. Finally, JPMorgan Chase & Co. boosted their price objective on EnQuest from GBX 24 to GBX 25 and gave the company an “overweight” rating in a research report on Wednesday, April 8th. Five investment analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of GBX 22.40.

EnQuest Stock Performance

The stock has a market cap of £332.76 million, a P/E ratio of 178.80, a PEG ratio of 0.07 and a beta of 0.03. The company has a debt-to-equity ratio of 204.44, a current ratio of 0.72 and a quick ratio of 0.75. The firm’s 50-day moving average price is GBX 19.16 and its 200-day moving average price is GBX 14.24.

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).