EnQuest (LON:ENQ) Reaches New 1-Year High – What’s Next?

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

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. JPMorgan Chase & Co. boosted their price objective on EnQuest from GBX 29 to GBX 35 and gave the stock an “overweight” rating in a research report on Friday, July 3rd. Canaccord Genuity Group downgraded shares of EnQuest to a “buy” rating and reduced their price objective for the stock from GBX 50 to GBX 48 in a research report on Friday, September 4th. Finally, Shore Capital Group reaffirmed a “house stock” rating and set a GBX 41 price target on shares of EnQuest in a research report on Thursday, September 3rd. Three investment analysts have rated the stock with a Buy rating. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of GBX 34.60.

EnQuest Trading Down 2.0%

The company has a debt-to-equity ratio of 231.41, a current ratio of 0.64 and a quick ratio of 0.75. The company has a market capitalization of £586.24 million, a price-to-earnings ratio of 4.32, a price-to-earnings-growth ratio of 0.07 and a beta of 0.02. The business’s 50 day simple moving average is GBX 26.84 and its 200 day simple moving average is GBX 23.45.

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).