EnQuest (OTCMKTS:ENQUF) Shares Up 14.4% – Here’s Why

EnQuest (OTCMKTS:ENQUF)’s share price rose 14.4% on Wednesday . The stock traded as high as $0.3665 and last traded at $0.3665. Approximately 2,500 shares were traded during mid-day trading, a decline of 90% from the average session volume of 25,300 shares. The stock had previously closed at $0.3203.

Analysts Set New Price Targets

Separately, Jefferies Financial Group restated a “buy” rating on shares of EnQuest in a report on Friday, June 5th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, EnQuest presently has an average rating of “Moderate Buy”.

EnQuest Stock Up 7.8%

The company has a debt-to-equity ratio of 1.75, a current ratio of 0.72 and a quick ratio of 0.68. The stock’s 50 day simple moving average is $0.33 and its 200-day simple moving average is $0.27.

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.