EnQuest (OTCMKTS:ENQUF) Trading 14.4% Higher – Still a Buy?

EnQuest (OTCMKTS:ENQUF) shares rose 14.4% during trading on Wednesday . The stock traded as high as $0.3665 and last traded at $0.3665. 2,500 shares were traded during mid-day trading, a decline of 90% from the average daily volume of 25,300 shares. The stock had previously closed at $0.3203.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group restated 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 issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy”.

EnQuest Stock Performance

The company has a 50-day simple moving average of $0.33 and a 200 day simple moving average of $0.28. The company has a quick ratio of 0.68, a current ratio of 0.72 and a debt-to-equity ratio of 1.75.

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.