EnQuest (OTCMKTS:ENQUF) Shares Gap Up – Still a Buy?

EnQuest (OTCMKTS:ENQUF)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $0.3084, but opened at $0.34. EnQuest shares last traded at $0.34, with a volume of 1,800 shares.

Wall Street Analysts Forecast Growth

ENQUF has been the subject of a number of research analyst reports. Jefferies Financial Group reaffirmed a “buy” rating on shares of EnQuest in a research report on Friday, June 5th. Zacks Research raised EnQuest to a “hold” rating in a research report on Friday, April 10th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, EnQuest currently has a consensus rating of “Moderate Buy”.

EnQuest Price Performance

The company has a debt-to-equity ratio of 1.75, a current ratio of 0.72 and a quick ratio of 0.68. The firm’s fifty day moving average price is $0.29 and its 200 day moving average price is $0.24.

EnQuest Company Profile

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.