EnQuest (OTCMKTS:ENQUF) Shares Gap Down – Here’s Why

Shares of EnQuest (OTCMKTS:ENQUF) gapped down prior to trading on Wednesday . The stock had previously closed at $0.38, but opened at $0.3399. EnQuest shares last traded at $0.3399, with a volume of 179 shares traded.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ENQUF. Zacks Research raised EnQuest to a “hold” rating in a research note on Friday, April 10th. Jefferies Financial Group reaffirmed a “buy” rating on shares of EnQuest in a research note on Friday, June 5th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, EnQuest currently has a consensus rating of “Moderate Buy”.

EnQuest Price Performance

The company’s 50-day simple moving average is $0.27 and its 200 day simple moving average is $0.21. 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.