EnQuest (LON:ENQ) Shares Cross Above 200 Day Moving Average – Here’s Why

EnQuest PLC (LON:ENQ)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 14.54 and traded as high as GBX 19.90. EnQuest shares last traded at GBX 19.10, with a volume of 4,303,494 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on ENQ shares. Shore Capital Group reissued a “buy” rating on shares of EnQuest in a research report on Thursday, April 23rd. Jefferies Financial Group reissued a “buy” rating and issued a GBX 15 target price on shares of EnQuest in a research report on Wednesday, February 4th. Finally, JPMorgan Chase & Co. boosted their target price on shares of EnQuest from GBX 24 to GBX 25 and gave the company an “overweight” rating in a research report on Wednesday, April 8th. Five equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, EnQuest presently has a consensus rating of “Buy” and an average price target of GBX 22.40.

EnQuest Stock Performance

The firm has a market cap of £366.26 million, a price-to-earnings ratio of 196.80, a P/E/G ratio of 0.07 and a beta of 0.03. The stock has a 50 day moving average of GBX 19.40 and a 200 day moving average of GBX 14.57. The company has a quick ratio of 0.75, a current ratio of 0.72 and a debt-to-equity ratio of 204.44.

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).