EnQuest (LON:ENQ) Reaches New 1-Year High Following Analyst Upgrade

EnQuest PLC (LON:ENQ) shares hit a new 52-week high during trading on Thursday after JPMorgan Chase & Co. upgraded the stock to a neutral rating. JPMorgan Chase & Co. now has a GBX 25 price target on the stock, up from their previous price target of GBX 11. EnQuest traded as high as GBX 18.33 and last traded at GBX 17.41, with a volume of 12115091 shares trading hands. The stock had previously closed at GBX 16.98.

ENQ has been the subject of a number of other research reports. 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. Shore Capital Group reiterated a “buy” rating and set a GBX 28 price objective on shares of EnQuest in a report on Monday, November 10th. Jefferies Financial Group restated a “buy” rating and issued a GBX 15 target price on shares of EnQuest in a research note on Wednesday, February 4th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and issued a GBX 20 target price on shares of EnQuest in a research report on Thursday, November 13th. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, EnQuest presently has a consensus rating of “Moderate Buy” and an average price target of GBX 22.40.

EnQuest Stock Performance

The firm has a 50 day moving average price of GBX 12.93 and a 200-day moving average price of GBX 11.90. The company has a debt-to-equity ratio of 298.30, a quick ratio of 0.75 and a current ratio of 0.89. The company has a market cap of £323.57 million, a P/E ratio of -2.90, a P/E/G 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).