Enquest (LON:ENQ) Price Target Raised to GBX 23 at Barclays

Enquest (LON:ENQ) had its target price upped by Barclays from GBX 19 ($0.25) to GBX 23 ($0.30) in a research report released on Friday morning, ThisIsMoney.Co.Uk reports. Barclays currently has an underweight rating on the oil and gas development company’s stock.

A number of other research firms have also weighed in on ENQ. Numis Securities reaffirmed an under review rating on shares of Enquest in a research note on Thursday, May 16th. Royal Bank of Canada reaffirmed an underperform rating on shares of Enquest in a research note on Thursday, September 12th. Three research analysts have rated the stock with a sell rating and two have given a hold rating to the stock. The company currently has a consensus rating of Sell and a consensus price target of GBX 22 ($0.29).

Enquest stock opened at GBX 20.64 ($0.27) on Friday. Enquest has a 1-year low of GBX 15.26 ($0.20) and a 1-year high of GBX 37.56 ($0.49). The firm has a market capitalization of $349.94 million and a price-to-earnings ratio of 2.40. The firm’s fifty day moving average price is GBX 20.06 and its two-hundred day moving average price is GBX 19.97. The company has a current ratio of 0.68, a quick ratio of 0.57 and a debt-to-equity ratio of 245.01.

In other news, insider Amjad Bseisu purchased 896,793 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were bought at an average cost of GBX 19 ($0.25) per share, with a total value of £170,390.67 ($222,645.59). Also, insider Helmut Langanger purchased 200,000 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The shares were purchased at an average cost of GBX 20 ($0.26) per share, for a total transaction of £40,000 ($52,267.08). Insiders have purchased 3,538,987 shares of company stock worth $68,325,820 over the last three months.

About Enquest

EnQuest PLC, an oil and gas development and production company, together with its subsidiaries, explores for, extracts, and produces hydrocarbons in the United Kingdom Continental Shelf and Malaysia. The company operates through North Sea and Malaysia segments. It primarily holds interests in the Thistle/Deveron, Heather/Broom, the Dons area, Magnus, the Greater Kittiwake Area, Scolty/Crathes, and Alma/Galia; and in the Kraken development, and a non-operated interest in the Alba producing oil field, as well as the PM8/Seligi production sharing contract and the Tanjong Baram risk services contract in Malaysia.

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