EnQuest (LON:ENQ) Hits New 52-Week High – Should You Buy?

EnQuest PLC (LON:ENQ)’s share price hit a new 52-week high during mid-day trading on Tuesday. The company traded as high as GBX 30.60 and last traded at GBX 30.60, with a volume of 5,873,616 shares traded. The stock had previously closed at GBX 29.70.

Wall Street Analysts Forecast Growth

ENQ has been the subject of several recent analyst reports. JPMorgan Chase & Co. upped their price objective on shares of EnQuest from GBX 29 to GBX 35 and gave the company an “overweight” rating in a research note on Friday, July 3rd. Canaccord Genuity Group lowered shares of EnQuest to a “buy” rating and dropped their target price for the stock from GBX 50 to GBX 48 in a report on Friday, September 4th. Finally, Shore Capital Group reissued a “house stock” rating and issued a GBX 41 target price on shares of EnQuest in a research note on Thursday, September 3rd. Three analysts have rated the stock with a Buy rating. Based on data from MarketBeat.com, EnQuest currently has a consensus rating of “Buy” and a consensus target price of GBX 34.60.

EnQuest Stock Up 3.0%

The company has a debt-to-equity ratio of 231.41, a current ratio of 0.64 and a quick ratio of 0.75. The stock has a market capitalization of £569.49 million, a PE ratio of 4.19, a PEG ratio of 0.07 and a beta of 0.02. The company has a 50 day moving average price of GBX 26.02 and a 200-day moving average price of GBX 23.03.

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).