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

Key Points

• EnQuest PLC has recently traded above its 200-day moving average, indicating potential changes in investor sentiment, with shares last at GBX 12.64 ($0.17).
• Shore Capital has reiterated a "buy" rating on EnQuest shares, reflecting positive analyst outlook amidst its stock performance.
• The company has a market capitalization of £291.85 million and notable financial ratios, including a P/E ratio of 14.42 and a debt-to-equity ratio of 208.00.

EnQuest PLC (LON:ENQ - Get Free Report)'s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 12.74 ($0.17) and traded as high as GBX 12.78 ($0.17). EnQuest shares last traded at GBX 12.64 ($0.17), with a volume of 497,525 shares changing hands.

Analyst Ratings Changes

Separately, Shore Capital reissued a "buy" rating on shares of EnQuest in a research report on Tuesday. Three equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, EnQuest has an average rating of "Buy" and a consensus price target of GBX 28.

EnQuest Stock Up 1.3%

The stock's 50-day moving average price is GBX 13.09 and its two-hundred day moving average price is GBX 12.75. The stock has a market capitalization of £295.08 million, a PE ratio of 14.58, a P/E/G ratio of 0.07 and a beta of 1.43. The company has a debt-to-equity ratio of 208.00, a quick ratio of 0.75 and a current ratio of 0.76.

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.