EnQuest (OTCMKTS:ENQUF) Reaches New 12-Month High – Should You Buy?

EnQuest (OTCMKTS:ENQUF) shares hit a new 52-week high during trading on Thursday . The company traded as high as $0.3375 and last traded at $0.3375, with a volume of 2517 shares. The stock had previously closed at $0.2478.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Zacks Research upgraded EnQuest to a “hold” rating in a research note on Friday, April 10th. Jefferies Financial Group restated a “buy” rating on shares of EnQuest in a research note on Friday, June 5th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, EnQuest currently has a consensus rating of “Moderate Buy”.

EnQuest Trading Up 36.2%

The company has a quick ratio of 0.68, a current ratio of 0.72 and a debt-to-equity ratio of 1.75. The business has a 50 day moving average price of $0.26 and a 200 day moving average price of $0.21.

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.