EnQuest (LON:ENQ) Trading Down 8% – Here’s Why

EnQuest PLC (LON:ENQ) shares fell 8% during mid-day trading 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 trading, an increase of 3% from the average session volume of 12,661,770 shares. The stock had previously closed at GBX 25.

Analyst Ratings Changes

A number of analysts recently commented on the company. Jefferies Financial Group reaffirmed a “restricted” rating and issued a GBX 25 price target on shares of EnQuest in a research note on Thursday, June 11th. JPMorgan Chase & Co. raised their target price on shares of EnQuest from GBX 25 to GBX 29 and gave the stock an “overweight” rating in a research report on Thursday, June 4th. Finally, Shore Capital Group reaffirmed a “buy” rating on shares of EnQuest in a research note on Thursday, April 23rd. Four research analysts have rated the stock with a Buy rating, According to MarketBeat.com, EnQuest currently has a consensus rating of “Buy” and an average price target of GBX 25.20.

EnQuest Stock Performance

The company has a market capitalization of £428.05 million, a P/E ratio of 230.00, a price-to-earnings-growth ratio of 0.07 and a beta of 0.00. The company’s 50 day moving average is GBX 20.14 and its 200-day moving average is GBX 16.11. The company has a current ratio of 0.72, a quick ratio of 0.75 and a debt-to-equity ratio of 204.44.

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).