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

EnQuest PLC (LON:ENQ)’s stock price traded down 7.8% on Monday . The company 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 daily volume of 13,638,301 shares. The stock had previously closed at GBX 27.50.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ENQ. Shore Capital Group reiterated a “buy” rating on shares of EnQuest in a report on Thursday, April 23rd. JPMorgan Chase & Co. lifted their price target on shares of EnQuest from GBX 29 to GBX 35 and gave the stock an “overweight” rating in a report on Friday, July 3rd. Finally, Jefferies Financial Group reaffirmed a “restricted” rating and set a GBX 25 price target on shares of EnQuest in a research report on Thursday, June 11th. Four analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of GBX 26.40.

EnQuest Price Performance

The company has a market cap of £471.78 million, a PE ratio of 253.50, a price-to-earnings-growth ratio of 0.07 and a beta of 0.02. The company has a debt-to-equity ratio of 204.44, a quick ratio of 0.75 and a current ratio of 0.72. The stock has a 50 day moving average of GBX 22.49 and a 200-day moving average of GBX 18.66.

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).