EnQuest (LON:ENQ) Stock Price Down 1.9% – Time to Sell?

EnQuest PLC (LON:ENQ)’s stock price traded down 1.9% during mid-day trading on Tuesday. The stock traded as low as GBX 25.15 and last traded at GBX 25.85. 10,585,968 shares changed hands during trading, a decline of 15% from the average session volume of 12,471,331 shares. The stock had previously closed at GBX 26.35.

Analysts Set New Price Targets

A number of brokerages have commented on ENQ. Canaccord Genuity Group downgraded EnQuest to a “buy” rating and reduced their price objective for the stock from GBX 50 to GBX 48 in a research report on Friday, September 4th. Shore Capital Group restated a “house stock” rating and set a GBX 41 price objective on shares of EnQuest in a research report on Thursday, September 3rd. Two investment analysts have rated the stock with a Buy rating. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of GBX 37.25.

EnQuest Stock Performance

The company has a quick ratio of 0.75, a current ratio of 0.64 and a debt-to-equity ratio of 231.41. The stock has a market capitalization of £518.31 million, a price-to-earnings ratio of 3.82, a price-to-earnings-growth ratio of 0.07 and a beta of 0.02. The stock’s 50-day simple moving average is GBX 28.29 and its 200 day simple moving average is GBX 22.36.

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).