EnQuest (LON:ENQ) Cut to “Buy” at Canaccord Genuity Group

Canaccord Genuity Group downgraded shares of EnQuest (LON:ENQ) to a buy rating in a research report report published on Friday morning,Digital Look reports. They currently have GBX 48 price target on the oil and gas development company’s stock, down from their previous price target of GBX 50.

A number of other analysts have also recently weighed in on ENQ. JPMorgan Chase & Co. boosted their price objective on shares of EnQuest from GBX 29 to GBX 35 and gave the stock an “overweight” rating in a research note on Friday, July 3rd. Shore Capital Group reiterated a “house stock” rating and issued a GBX 41 target price on shares of EnQuest in a research note on Thursday. Finally, Jefferies Financial Group reiterated a “restricted” rating and issued a GBX 25 target price on shares of EnQuest in a report on Thursday, June 11th. Three equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of GBX 34.60.

EnQuest Stock Performance

Shares of EnQuest stock opened at GBX 24.85 on Friday. The firm has a market cap of £462.48 million, a PE ratio of 248.50, a price-to-earnings-growth ratio of 0.07 and a beta of 0.02. The firm’s 50-day simple moving average is GBX 24.46 and its 200-day simple moving average is GBX 21.35. The company has a debt-to-equity ratio of 231.41, a quick ratio of 0.75 and a current ratio of 0.64. EnQuest has a 1 year low of GBX 9.72 and a 1 year high of GBX 34.35.

More EnQuest News

Here are the key news stories impacting EnQuest this week:

• Positive Sentiment: EnQuest reported a 9% increase in first-half production, while adjusted earnings improved. Management also highlighted progress on its Malaysian acquisition, which has been described as potentially “transformational” because it could add material production and diversify the company beyond the North Sea. EnQuest Reports 9% Rise in H1 Production and Advances Malaysian Acquisition
• Positive Sentiment: The company said it is interested in acquiring BP’s North Sea assets. Additional assets could expand EnQuest’s production base and create operating synergies, although any deal would depend on valuation, financing and execution. Enquest CEO: Interested in BP’s North Sea assets
• Positive Sentiment: Shore Capital reaffirmed its “house stock” rating and set a GBX 41 price target, while EnQuest’s shares recently reached a new one-year high, indicating continued analyst and market interest. Shore Capital rating
• Neutral Sentiment: Canaccord Genuity continues to rate EnQuest “Buy” but reduced its price target to GBX 48 from GBX 50. The maintained Buy rating is supportive, while the lower target signals more limited near-term upside. Canaccord Genuity rating
• Negative Sentiment: EnQuest trimmed the higher end of its 2026 production forecast after an outage at Magnus. The guidance reduction raises concerns about near-term production, revenue and cash flow, and was the main pressure on the stock. EnQuest trims output forecast after Magnus outage
• Negative Sentiment: Although adjusted earnings increased, statutory profit declined, contributing to the share-price weakness and reinforcing investor concerns about the quality and sustainability of earnings growth. EnQuest shares fall as adjusted earnings grow but statutory falls

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).