EnQuest (LON:ENQ) Sets New 1-Year High – Still a Buy?

EnQuest PLC (LON:ENQ) shares hit a new 52-week high on Tuesday. The company traded as high as GBX 30.60 and last traded at GBX 30.60, with a volume of 5,873,616 shares changing hands. The stock had previously closed at GBX 29.70.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ENQ. JPMorgan Chase & Co. boosted their price objective on shares of EnQuest from GBX 29 to GBX 35 and gave the company an “overweight” rating in a research report on Friday, July 3rd. Canaccord Genuity Group lowered shares of EnQuest to a “buy” rating and reduced their target price 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 target price on shares of EnQuest in a research report on Thursday, September 3rd. Three research analysts have rated the stock with a Buy rating. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of GBX 34.60.

EnQuest Price Performance

The company has a debt-to-equity ratio of 231.41, a quick ratio of 0.75 and a current ratio of 0.64. The firm has a fifty day simple moving average of GBX 26.35 and a 200 day simple moving average of GBX 23.22. The company has a market capitalization of £575.07 million, a PE ratio of 4.23, a P/E/G ratio of 0.07 and a beta of 0.02.

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).