EnQuest (LON:ENQ) Hits New 52-Week High – Should You Buy?

Shares of EnQuest PLC (LON:ENQ) hit a new 52-week high during trading on Tuesday. The stock traded as high as GBX 32.90 and last traded at GBX 31.50, with a volume of 15,931,342 shares. The stock had previously closed at GBX 32.15.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Canaccord Genuity Group lowered shares of EnQuest to a “buy” rating and decreased their price target for the company from GBX 50 to GBX 48 in a research note on Friday, September 4th. JPMorgan Chase & Co. increased their price target 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, Shore Capital Group restated a “house stock” rating and set a GBX 41 price objective on shares of EnQuest in a research report on Thursday, September 3rd. Three equities research analysts have rated the stock with a Buy rating. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of GBX 34.60.

EnQuest Trading Down 0.4%

The firm has a market capitalization of £586.91 million, a P/E ratio of 4.32, a price-to-earnings-growth ratio of 0.07 and a beta of 0.02. The business’s 50-day moving average is GBX 27.11 and its 200 day moving average is GBX 23.62. The company has a debt-to-equity ratio of 231.41, a current ratio of 0.64 and a quick ratio of 0.75.

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).