Royal Bank of Canada Upgrades Enquest (LON:ENQ) to Sector Performer

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Enquest (LON:ENQ) was upgraded by stock analysts at Royal Bank of Canada to a “sector performer” rating in a note issued to investors on Thursday, Stock Target Advisor reports. The firm presently has a GBX 24 ($0.31) price target on the oil and gas development company’s stock, up from their prior price target of GBX 20 ($0.26). Royal Bank of Canada’s target price indicates a potential upside of 27.52% from the stock’s current price.

A number of other research firms have also recently issued reports on ENQ. Canaccord Genuity cut their target price on Enquest from GBX 20 ($0.26) to GBX 15 ($0.20) and set a “hold” rating on the stock in a research note on Tuesday, October 15th. Barclays reduced their price target on shares of Enquest from GBX 23 ($0.30) to GBX 21 ($0.27) and set an “underweight” rating for the company in a report on Thursday, October 10th. Two investment analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of GBX 22 ($0.29).

Shares of ENQ opened at GBX 18.82 ($0.25) on Thursday. The company has a market cap of $313.87 million and a P/E ratio of 2.19. The stock has a fifty day moving average price of GBX 18.42 and a 200 day moving average price of GBX 19.58. The company has a debt-to-equity ratio of 245.01, a current ratio of 0.68 and a quick ratio of 0.57. Enquest has a 12 month low of GBX 15.26 ($0.20) and a 12 month high of GBX 24.80 ($0.32).

In other news, insider Amjad Bseisu purchased 120,686 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were bought at an average price of GBX 19 ($0.25) per share, for a total transaction of £22,930.34 ($29,962.55). In the last 90 days, insiders acquired 4,114,148 shares of company stock valued at $78,023,773.

About Enquest

EnQuest PLC, an oil and gas development and production company, together with its subsidiaries, explores for, extracts, and produces hydrocarbons in the United Kingdom Continental Shelf and Malaysia. The company operates through North Sea and Malaysia segments. It primarily holds interests in the Thistle/Deveron, Heather/Broom, the Dons area, Magnus, the Greater Kittiwake Area, Scolty/Crathes, and Alma/Galia; and in the Kraken development, and a non-operated interest in the Alba producing oil field, as well as the PM8/Seligi production sharing contract and the Tanjong Baram risk services contract in Malaysia.

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Analyst Recommendations for Enquest (LON:ENQ)

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