EnQuest (LON:ENQ) Shares Down 7.8% – Here’s Why

EnQuest PLC (LON:ENQGet Free Report)’s stock price fell 7.8% on Monday . The stock traded as low as GBX 24.90 and last traded at GBX 25.35. Approximately 7,018,047 shares changed hands during mid-day trading, a decline of 49% from the average session volume of 13,638,301 shares. The stock had previously closed at GBX 27.50.

Wall Street Analyst Weigh In

Several analysts have commented on ENQ shares. Shore Capital Group restated a “buy” rating on shares of EnQuest in a research note on Thursday, April 23rd. Jefferies Financial Group reiterated a “restricted” rating and issued a GBX 25 price objective on shares of EnQuest in a research note on Thursday, June 11th. Finally, JPMorgan Chase & Co. raised their target price on shares of EnQuest from GBX 29 to GBX 35 and gave the stock an “overweight” rating in a report on Friday, July 3rd. Four research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of GBX 26.40.

Check Out Our Latest Analysis on EnQuest

EnQuest Price Performance

The company has a quick ratio of 0.75, a current ratio of 0.72 and a debt-to-equity ratio of 204.44. The company has a market capitalization of £471.78 million, a price-to-earnings ratio of 253.50, a PEG ratio of 0.07 and a beta of 0.02. The stock’s 50-day simple moving average is GBX 22.49 and its two-hundred day simple moving average is GBX 18.66.

About EnQuest

(Get Free Report)

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).

Further Reading

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