EnQuest (LON:ENQ) Reaches New 12-Month High – Still a Buy?

EnQuest PLC (LON:ENQ)’s share price hit a new 52-week high during trading on Wednesday. The company traded as high as GBX 27.95 and last traded at GBX 27.20, with a volume of 3477718 shares traded. The stock had previously closed at GBX 27.40.

Analysts Set New Price Targets

ENQ has been the topic of several research analyst reports. Jefferies Financial Group reissued a “restricted” rating and issued a GBX 25 price objective on shares of EnQuest in a research report on Thursday, June 11th. Canaccord Genuity Group cut EnQuest to a “buy” rating and lowered their target price for the stock from GBX 50 to GBX 48 in a research note on Friday, September 4th. JPMorgan Chase & Co. boosted their price target on shares of EnQuest from GBX 29 to GBX 35 and gave the stock an “overweight” rating in a report on Friday, July 3rd. Finally, Shore Capital Group reissued a “house stock” rating and issued a GBX 41 price target on shares of EnQuest in a report on Thursday, September 3rd. Three research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of GBX 34.60.

EnQuest Stock Down 0.7%

The stock’s 50-day moving average price is GBX 25.81 and its two-hundred day moving average price is GBX 22.89. The company has a current ratio of 0.64, a quick ratio of 0.75 and a debt-to-equity ratio of 231.41. The stock has a market capitalization of £526.69 million, a P/E ratio of 3.88, a P/E/G ratio of 0.07 and a beta of 0.02.

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).