EnQuest (OTCMKTS:ENQUF) Sets New 1-Year High – What’s Next?

EnQuest (OTCMKTS:ENQUF) shares reached a new 52-week high on Thursday . The stock traded as high as $0.3375 and last traded at $0.3375, with a volume of 2517 shares trading hands. The stock had previously closed at $0.2478.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ENQUF. Jefferies Financial Group reiterated a “buy” rating on shares of EnQuest in a research report on Friday, June 5th. Zacks Research upgraded shares of EnQuest to a “hold” rating in a research report on Friday, April 10th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy”.

EnQuest Stock Performance

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

About EnQuest

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.