EnQuest (LON:ENQ) Sets New 1-Year Low - Here's Why

Key Points

• EnQuest PLC shares have hit a new 52-week low of GBX 9.86 ($0.13), with a trading volume of 1.67 million shares.
• Despite the drop, analysts maintain a consensus "Buy" rating with price targets ranging from GBX 20 to GBX 28, indicating potential recovery.
• Insider Marianne Daryabegui purchased 166,660 shares at an average price of GBX 11, suggesting insider confidence in the company.

EnQuest PLC (LON:ENQ - Get Free Report) shares hit a new 52-week low during trading on Monday . The stock traded as low as GBX 9.86 ($0.13) and last traded at GBX 9.86 ($0.13), with a volume of 1679494 shares changing hands. The stock had previously closed at GBX 10.08 ($0.14).

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on ENQ shares. Shore Capital reiterated a "buy" rating and set a GBX 28 price objective on shares of EnQuest in a research report on Wednesday, September 24th. Canaccord Genuity Group lifted their price objective on EnQuest from GBX 19 to GBX 20 and gave the company a "buy" rating in a research note on Friday, September 26th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, EnQuest presently has a consensus rating of "Buy" and a consensus price target of GBX 24.

EnQuest Trading Down 2.2%

The company has a current ratio of 0.76, a quick ratio of 0.75 and a debt-to-equity ratio of 208.00. The company has a 50 day simple moving average of GBX 11.85 and a 200 day simple moving average of GBX 12.50. The stock has a market capitalization of £183.30 million, a PE ratio of -1.64, a P/E/G ratio of 0.07 and a beta of 1.43.

Insider Buying and Selling

In related news, insider Marianne Daryabegui bought 166,660 shares of the stock in a transaction on Friday, October 10th. The shares were purchased at an average price of GBX 11 per share, for a total transaction of £18,332.60. Company insiders own 13.31% of the company's stock.

EnQuest Company Profile

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.

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