EnQuest (LON:ENQ) Shares Down 8% – Should You Sell?

EnQuest PLC (LON:ENQ) shares traded down 8% on Thursday . The stock traded as low as GBX 22.70 and last traded at GBX 23. Approximately 13,002,428 shares were traded during mid-day trading, an increase of 3% from the average session volume of 12,661,770 shares. The stock had previously closed at GBX 25.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ENQ. JPMorgan Chase & Co. upped their price target on shares of EnQuest from GBX 25 to GBX 29 and gave the company an “overweight” rating in a report on Thursday, June 4th. Jefferies Financial Group reissued a “restricted” rating and issued a GBX 25 price objective on shares of EnQuest in a research report on Thursday, June 11th. Finally, Shore Capital Group restated a “buy” rating on shares of EnQuest in a report on Thursday, April 23rd. Four research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of GBX 25.20.

EnQuest Stock 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 stock has a 50 day simple moving average of GBX 20.27 and a two-hundred day simple moving average of GBX 16.24. The stock has a market capitalization of £434.56 million, a P/E ratio of 233.50, a P/E/G ratio of 0.07 and a beta of 0.00.

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).