EnQuest (LON:ENQ) Shares Pass Above Two Hundred Day Moving Average – What’s Next?

EnQuest PLC (LON:ENQ)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 11.86 and traded as high as GBX 17.94. EnQuest shares last traded at GBX 16.90, with a volume of 43,368,039 shares changing hands.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Canaccord Genuity Group reiterated a “buy” rating and issued a GBX 20 price target on shares of EnQuest in a report on Thursday, November 13th. Peel Hunt reaffirmed a “buy” rating and issued a GBX 24 target price on shares of EnQuest in a report on Monday, November 10th. Shore Capital Group reissued a “buy” rating and set a GBX 28 price target on shares of EnQuest in a research note on Monday, November 10th. Jefferies Financial Group restated a “buy” rating and issued a GBX 15 price target on shares of EnQuest in a report on Wednesday, February 4th. Finally, JPMorgan Chase & Co. raised EnQuest to a “neutral” rating and lifted their price objective for the stock from GBX 11 to GBX 25 in a report on Thursday. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of GBX 22.40.

EnQuest Trading Up 5.9%

The business’s 50-day moving average is GBX 13.10 and its two-hundred day moving average is GBX 11.94. The company has a current ratio of 0.89, a quick ratio of 0.75 and a debt-to-equity ratio of 298.30. The stock has a market capitalization of £344.67 million, a PE ratio of -3.09, a PEG ratio of 0.07 and a beta of 0.10.

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).