EnQuest (OTCMKTS:ENQUF) Shares Gap Up – Time to Buy?

EnQuest (OTCMKTS:ENQUF)’s share price gapped up before the market opened on Friday . The stock had previously closed at $0.3203, but opened at $0.34. EnQuest shares last traded at $0.34, with a volume of 300 shares traded.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group reissued a “buy” rating on shares of EnQuest in a research report on Friday, June 5th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, EnQuest presently has an average rating of “Moderate Buy”.

EnQuest Stock Up 6.2%

The firm has a 50-day moving average of $0.32 and a two-hundred day moving average of $0.27. The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.68 and a current ratio of 0.72.

EnQuest Company Profile

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.