EnQuest (LON:ENQ) Trading Up 27% – Here’s Why

EnQuest PLC (LON:ENQ) shares rose 27% during mid-day trading on Wednesday . The company traded as high as GBX 24.75 and last traded at GBX 24.25. Approximately 107,977,680 shares changed hands during trading, an increase of 768% from the average daily volume of 12,444,629 shares. The stock had previously closed at GBX 19.10.

Wall Street Analyst Weigh In

ENQ has been the subject of a number of recent research reports. JPMorgan Chase & Co. raised their price target on shares of EnQuest from GBX 25 to GBX 29 and gave the stock an “overweight” rating in a research report on Thursday, June 4th. Shore Capital Group reissued a “buy” rating on shares of EnQuest in a research report on Thursday, April 23rd. Five equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of GBX 23.20.

EnQuest Stock Performance

The company has a market cap of £451.31 million, a PE ratio of 242.50, a price-to-earnings-growth ratio of 0.07 and a beta of 0.00. The firm’s fifty day moving average is GBX 19.49 and its 200 day moving average is GBX 15.51. The company has a current ratio of 0.72, a quick ratio of 0.75 and a debt-to-equity ratio of 204.44.

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).