EnQuest (LON:ENQ) Shares Cross Above 200 Day Moving Average – Here’s Why

Shares of EnQuest PLC (LON:ENQ) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of GBX 14.85 and traded as high as GBX 19.94. EnQuest shares last traded at GBX 19.94, with a volume of 6,432,468 shares.

Wall Street Analysts Forecast Growth

ENQ has been the subject of several research reports. Shore Capital Group reissued a “buy” rating on shares of EnQuest in a report on Thursday, April 23rd. 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, JPMorgan Chase & Co. increased their price target on EnQuest from GBX 24 to GBX 25 and gave the stock an “overweight” rating in a research note on Wednesday, April 8th. Five research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of GBX 22.40.

EnQuest Stock Up 4.5%

The firm has a market capitalization of £371.10 million, a PE ratio of 199.40, a PEG ratio of 0.07 and a beta of 0.03. The company has a current ratio of 0.72, a quick ratio of 0.75 and a debt-to-equity ratio of 204.44. The stock has a 50 day simple moving average of GBX 19.52 and a 200 day simple moving average of GBX 14.85.

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).