EnQuest (LON:ENQ) Trading Down 8.9% – Here’s Why

EnQuest PLC (LON:ENQ) shares dropped 8.9% during mid-day trading on Wednesday . The stock traded as low as GBX 17.62 and last traded at GBX 19. Approximately 78,245,922 shares were traded during trading, an increase of 665% from the average daily volume of 10,234,763 shares. The stock had previously closed at GBX 20.85.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on ENQ shares. Jefferies Financial Group reaffirmed a “buy” rating and set a GBX 15 price objective on shares of EnQuest in a report on Wednesday, February 4th. JPMorgan Chase & Co. lifted their price objective on EnQuest from GBX 24 to GBX 25 and gave the company an “overweight” rating in a report on Wednesday. Finally, Shore Capital Group reaffirmed a “buy” rating on shares of EnQuest in a report on Wednesday, March 25th. Five analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of GBX 22.40.

EnQuest Stock Down 8.9%

The company has a quick ratio of 0.75, a current ratio of 0.72 and a debt-to-equity ratio of 204.44. The business has a fifty day simple moving average of GBX 16.99 and a two-hundred day simple moving average of GBX 13.10. The company has a market capitalization of £353.61 million, a price-to-earnings ratio of 190.00, a P/E/G ratio of 0.07 and a beta of 0.25.

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).