EnQuest (LON:ENQ) Stock Crosses Above 200 Day Moving Average – What’s Next?

EnQuest PLC (LON:ENQ)’s stock price crossed above its two hundred day moving average during trading on Tuesday. The stock has a two hundred day moving average of GBX 22.53 and traded as high as GBX 27.25. EnQuest shares last traded at GBX 26.55, with a volume of 3,966,962 shares.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on ENQ shares. Canaccord Genuity Group downgraded EnQuest to a “buy” rating and decreased their price objective for the company from GBX 50 to GBX 48 in a report on Friday, September 4th. Shore Capital Group reiterated a “house stock” rating and issued a GBX 41 price target on shares of EnQuest in a research report on Thursday, September 3rd. JPMorgan Chase & Co. increased their price target on EnQuest from GBX 29 to GBX 35 and gave the company an “overweight” rating in a research note on Friday, July 3rd. Finally, Jefferies Financial Group restated a “restricted” rating and set a GBX 25 price objective on shares of EnQuest in a research report on Thursday, June 11th. Three equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of GBX 34.60.

EnQuest Trading Up 3.8%

The company has a debt-to-equity ratio of 231.41, a current ratio of 0.64 and a quick ratio of 0.75. The firm has a market cap of £511.95 million, a price-to-earnings ratio of 274.50, a price-to-earnings-growth ratio of 0.07 and a beta of 0.02. The firm’s fifty day moving average is GBX 25.56 and its 200-day moving average is GBX 22.58.

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).