EnQuest (OTCMKTS:ENQUF) Shares Gap Up – Here’s Why

Shares of EnQuest (OTCMKTS:ENQUF) gapped up before the market opened on Friday . The stock had previously closed at $0.34, but opened at $0.38. EnQuest shares last traded at $0.38, with a volume of 2,500 shares traded.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on ENQUF. Zacks Research upgraded EnQuest to a “hold” rating in a research note on Friday, April 10th. Jefferies Financial Group restated a “buy” rating on shares of EnQuest in a research note on Friday, June 5th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy”.

EnQuest Stock Up 11.8%

The stock has a 50-day simple moving average of $0.26 and a 200 day simple moving average of $0.21. The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.68 and a current ratio of 0.72.

EnQuest Company Profile

EnQuest plc is an independent oil and gas production company with core operations in the UK North Sea and Malaysia. The company focuses on the exploration, development and production of both onshore and offshore hydrocarbon reserves. In the UK, EnQuest’s portfolio includes a range of mature and brownfield assets such as the Magnus, Thistle, Thistle Alpha North and Kraken fields, where it applies enhanced recovery techniques to extend field life and optimise production. In Malaysia, EnQuest operates through its subsidiary, managing assets such as the North Sabah fields under production sharing contracts.

Founded in 2010 through the consolidation of Petrofac’s North Sea assets, EnQuest has grown through a combination of strategic acquisitions and in-house development projects.