EnQuest (LON:ENQ) Share Price Crosses Above 200-Day Moving Average – Here’s Why

EnQuest PLC (LON:ENQ)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 11.86 and traded as high as GBX 17.94. EnQuest shares last traded at GBX 16.90, with a volume of 43,368,039 shares.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ENQ. Shore Capital Group restated a “buy” rating and set a GBX 28 price target on shares of EnQuest in a research note on Monday, November 10th. Peel Hunt reissued a “buy” rating and set a GBX 24 target price on shares of EnQuest in a research note on Monday, November 10th. Canaccord Genuity Group reiterated a “buy” rating and set a GBX 20 price target on shares of EnQuest in a research note on Thursday, November 13th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a GBX 15 price objective on shares of EnQuest in a research note on Wednesday, February 4th. Four investment analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of GBX 21.75.

EnQuest Price Performance

The stock’s 50 day moving average is GBX 12.79 and its two-hundred day moving average is GBX 11.86. The company has a debt-to-equity ratio of 298.30, a current ratio of 0.89 and a quick ratio of 0.75. The stock has a market capitalization of £314.16 million, a PE ratio of -2.82, a price-to-earnings-growth ratio of 0.07 and a beta of 0.10.

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).