EnQuest (OTCMKTS:ENQUF) Shares Gap Up – Here’s Why

EnQuest (OTCMKTS:ENQUF)’s share price gapped up prior to trading on Friday . The stock had previously closed at $0.3084, but opened at $0.34. EnQuest shares last traded at $0.34, with a volume of 1,800 shares trading hands.

Analyst Upgrades and Downgrades

Several research firms recently commented on ENQUF. Zacks Research upgraded shares of EnQuest to a “hold” rating in a research note on Friday, April 10th. Jefferies Financial Group reaffirmed a “buy” rating on shares of EnQuest in a report on Friday, June 5th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy”.

EnQuest Trading Up 7.3%

The stock has a 50-day moving average of $0.29 and a 200 day moving average of $0.24. The company has a debt-to-equity ratio of 1.75, a current ratio of 0.72 and a quick ratio of 0.68.

About EnQuest

EnQuest plc is an independent oil and gas production company with core operations in the UK North Sea and Malaysia. The company focuses on the exploration, development and production of both onshore and offshore hydrocarbon reserves. In the UK, EnQuest’s portfolio includes a range of mature and brownfield assets such as the Magnus, Thistle, Thistle Alpha North and Kraken fields, where it applies enhanced recovery techniques to extend field life and optimise production. In Malaysia, EnQuest operates through its subsidiary, managing assets such as the North Sabah fields under production sharing contracts.

Founded in 2010 through the consolidation of Petrofac’s North Sea assets, EnQuest has grown through a combination of strategic acquisitions and in-house development projects.