EnQuest (LON:ENQ) Shares Up 8.7% - Here's Why

Key Points

• EnQuest PLC's shares surged by 8.7% during trading on Friday, reaching GBX 10.98 ($0.15) with over 5.6 million shares exchanged, significantly higher than the average session volume.
• Analyst ratings have improved for EnQuest, with Canaccord Genuity and Shore Capital both issuing "buy" ratings and raising price targets, contributing to a consensus rating of "Buy" with an average price target of GBX 24.
• Company insider Marianne Daryabegui purchased 166,660 shares at GBX 11 each, adding to the significant insider ownership of 13.31% in EnQuest.

Shares of EnQuest PLC (LON:ENQ - Get Free Report) shot up 8.7% during trading on Friday . The company traded as high as GBX 10.98 ($0.15) and last traded at GBX 10.98 ($0.15). 5,668,070 shares traded hands during trading, an increase of 83% from the average session volume of 3,090,756 shares. The stock had previously closed at GBX 10.10 ($0.13).

Analyst Ratings Changes

ENQ has been the subject of several research reports. Canaccord Genuity Group upped their price target on shares of EnQuest from GBX 19 to GBX 20 and gave the stock a "buy" rating in a research report on Friday, September 26th. Shore Capital reaffirmed a "buy" rating and issued a GBX 28 price target on shares of EnQuest in a research report on Wednesday, September 24th. Two analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of GBX 24.

EnQuest Price Performance

The stock's 50 day simple moving average is GBX 11.65 and its 200-day simple moving average is GBX 12.42. The firm has a market cap of £210.07 million, a price-to-earnings ratio of -1.88, a price-to-earnings-growth 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.

Insider Transactions at EnQuest

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

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.

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