Barclays Reiterates “Underweight” Rating for Enquest (LON:ENQ)

Barclays Reiterates “Underweight” Rating for Enquest (LON:ENQ)

Enquest (LON:ENQ)‘s stock had its “underweight” rating restated by research analysts at Barclays in a research report issued to clients and investors on Tuesday, April 16th, ThisIsMoney.Co.Uk reports.

Other research analysts also recently issued research reports about the stock. Jefferies Financial Group downgraded shares of Enquest to an “underperform” rating and cut their target price for the company from GBX 35 ($0.46) to GBX 15 ($0.20) in a research note on Tuesday, April 9th. Canaccord Genuity boosted their target price on shares of Enquest from GBX 20 ($0.26) to GBX 22 ($0.29) and gave the company a “hold” rating in a research note on Tuesday, April 9th. Royal Bank of Canada downgraded shares of Enquest to an “underperform” rating and cut their target price for the company from GBX 55 ($0.72) to GBX 15 ($0.20) in a research note on Monday, January 7th. Finally, JPMorgan Chase & Co. cut their target price on shares of Enquest from GBX 37 ($0.48) to GBX 35 ($0.46) and set a “neutral” rating for the company in a research note on Friday, March 1st. Three analysts have rated the stock with a sell rating and two have given a hold rating to the company’s stock. The stock has an average rating of “Sell” and a consensus price target of GBX 20.80 ($0.27).

LON:ENQ traded down GBX 0.10 ($0.00) during midday trading on Tuesday, reaching GBX 20.10 ($0.26). The stock had a trading volume of 5,321,259 shares, compared to its average volume of 8,310,000. The firm has a market cap of $325.87 million and a price-to-earnings ratio of 1.99. The company has a debt-to-equity ratio of 279.19, a current ratio of 0.69 and a quick ratio of 0.43. Enquest has a 12-month low of GBX 15.26 ($0.20) and a 12-month high of GBX 38.59 ($0.50).

In other Enquest news, insider Helmut Langanger bought 87,302 shares of the business’s stock in a transaction on Tuesday, May 7th. The shares were bought at an average cost of GBX 20 ($0.26) per share, with a total value of £17,460.40 ($22,815.11). Also, insider Jock Fyfe Lennox bought 28,732 shares of the business’s stock in a transaction on Wednesday, March 27th. The stock was acquired at an average cost of GBX 19 ($0.25) per share, for a total transaction of £5,459.08 ($7,133.25). Insiders have bought a total of 2,712,108 shares of company stock valued at $49,569,914 in the last quarter.

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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