EnQuest (LON:ENQ) Share Price Crosses Above 200-Day Moving Average – Here’s Why

EnQuest PLC (LON:ENQ)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 20.85 and traded as high as GBX 25.30. EnQuest shares last traded at GBX 24.80, with a volume of 2,157,249 shares traded.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ENQ. Jefferies Financial Group restated a “restricted” rating and set a GBX 25 target price on shares of EnQuest in a research report on Thursday, June 11th. JPMorgan Chase & Co. upped their price target on EnQuest from GBX 29 to GBX 35 and gave the stock an “overweight” rating in a report on Friday, July 3rd. Four investment analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of GBX 26.40.

EnQuest Trading Up 1.4%

The firm has a market cap of £468.06 million, a price-to-earnings ratio of 251.50, a price-to-earnings-growth ratio of 0.07 and a beta of 0.02. The company’s 50-day moving average price is GBX 24.20 and its 200-day moving average price is GBX 20.88. The company has a quick ratio of 0.75, a current ratio of 0.72 and a debt-to-equity ratio of 204.44.

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).