EnQuest (LON:ENQ) Hits New 12-Month High – Here’s Why

EnQuest PLC (LON:ENQ)’s stock price reached a new 52-week high on Thursday . The company traded as high as GBX 27.45 and last traded at GBX 27.35, with a volume of 1376701 shares trading hands. The stock had previously closed at GBX 26.90.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Shore Capital Group restated a “buy” rating on shares of EnQuest in a report on Thursday, April 23rd. JPMorgan Chase & Co. lifted their price target on EnQuest from GBX 29 to GBX 35 and gave the company an “overweight” rating in a report on Friday, July 3rd. Finally, Jefferies Financial Group reissued a “restricted” rating and set a GBX 25 price target on shares of EnQuest in a research report on Thursday, June 11th. Four research analysts have rated the stock with a Buy rating, According to data from MarketBeat, EnQuest presently has an average rating of “Buy” and a consensus price target of GBX 26.40.

EnQuest Price Performance

The stock’s 50-day moving average is GBX 22.16 and its 200-day moving average is GBX 18.42. 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 firm has a market cap of £514.59 million, a P/E ratio of 276.50, a price-to-earnings-growth ratio of 0.07 and a beta of 0.02.

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).