EnQuest (LON:ENQ) Shares Up 8.7% - Time to Buy?

Key Points

• EnQuest PLC's shares increased by 8.7% during mid-day trading, reaching GBX 10.98 ($0.15), with a notable trading volume of 5,668,070 shares.
• Analysts have provided a positive outlook on EnQuest, with Canaccord Genuity raising the price target to GBX 20 and Shore Capital setting a target of GBX 28.
• Insider Marianne Daryabegui recently purchased 166,660 shares at an average cost of GBX 11 per share, indicating insider confidence in the company's prospects.

EnQuest PLC (LON:ENQ - Get Free Report)'s stock price shot up 8.7% during mid-day trading on Thursday . The stock traded as high as GBX 10.98 ($0.15) and last traded at GBX 10.98 ($0.15). 5,668,070 shares were traded during mid-day 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).

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Canaccord Genuity Group raised 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 reissued a "buy" rating and set a GBX 28 price target on shares of EnQuest in a research report on Wednesday, September 24th. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of GBX 24.

EnQuest Trading Up 8.7%

The business's 50 day moving average is GBX 11.65 and its two-hundred day moving average is GBX 12.42. The company has a quick ratio of 0.75, a current ratio of 0.76 and a debt-to-equity ratio of 208.00. The firm has a market capitalization of £204.12 million, a P/E ratio of -1.83, a PEG ratio of 0.07 and a beta of 1.43.

Insider Buying and Selling

In other EnQuest news, insider Marianne Daryabegui purchased 166,660 shares of the company's stock in a transaction on Friday, October 10th. The shares were purchased at an average cost 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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