EnQuest (LON:ENQ) Reaches New 12-Month High – Time to Buy?

Shares of EnQuest PLC (LON:ENQ) hit a new 52-week high on Tuesday. The stock traded as high as GBX 32.90 and last traded at GBX 31.50, with a volume of 15,931,342 shares trading hands. The stock had previously closed at GBX 32.15.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ENQ. Shore Capital Group restated a “house stock” rating and set a GBX 41 price target on shares of EnQuest in a research note on Thursday, September 3rd. Canaccord Genuity Group downgraded EnQuest to a “buy” rating and decreased their price target for the stock from GBX 50 to GBX 48 in a report on Friday, September 4th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of EnQuest from GBX 29 to GBX 35 and gave the company an “overweight” rating in a research report on Friday, July 3rd. Three analysts have rated the stock with a Buy rating. Based on data from MarketBeat.com, EnQuest currently has a consensus rating of “Buy” and a consensus target price of GBX 34.60.

EnQuest Stock Down 2.0%

The stock has a market capitalization of £586.24 million, a PE ratio of 4.32, a PEG ratio of 0.07 and a beta of 0.02. The firm’s fifty day moving average is GBX 26.84 and its 200-day moving average is GBX 23.45. The company has a quick ratio of 0.75, a current ratio of 0.64 and a debt-to-equity ratio of 231.41.

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).