EnQuest Plc (LON:ENQ) Just Hit With Downgrade From Barclays Capital. Will Other Analysts Also Downgrade the Stock?

September 14, 2018 - By Mary Bollinger

EnQuest PLC (LON:ENQ) Logo

EnQuest Plc (LON:ENQ) Receives a Downgrade

Barclays Capital cut their rating for shares of EnQuest Plc (LON:ENQ) to a “Equal weight” in a report revealed to clients and investors on 14 September. The firm now has a firm GBX 45.00 price target on EnQuest Plc (LON:ENQ).

EnQuest PLC (LON:ENQ) Ratings Coverage

Among 5 analysts covering EnQuest Plc (LON:ENQ), 1 have Buy rating, 0 Sell and 4 Hold. Therefore 20% are positive. EnQuest Plc has GBX 58 highest and GBX 24 lowest target. GBX 41.40’s average target is 12.65% above currents GBX 36.75 stock price. EnQuest Plc had 9 analyst reports since March 21, 2018 according to SRatingsIntel. The company was maintained on Wednesday, March 21 by Barclays Capital. The firm has “Equal Weight” rating given on Friday, September 14 by Barclays Capital. On Friday, September 7 the stock rating was upgraded by RBC Capital Markets to “Outperform”. The company was upgraded on Tuesday, July 10 by Barclays Capital. The firm has “Neutral” rating given on Wednesday, March 21 by JP Morgan. The stock has “Neutral” rating by JP Morgan on Thursday, July 12. The firm has “Overweight” rating by Barclays Capital given on Thursday, July 5. As per Monday, March 26, the company rating was maintained by Canaccord Genuity. Jefferies maintained the stock with “Hold” rating in Tuesday, June 12 report.

The stock decreased 3.16% or GBX 1.2 during the last trading session, reaching GBX 36.75. About 9.28 million shares traded or 22.11% up from the average. EnQuest PLC (LON:ENQ) has 0.00% since September 14, 2017 and is . It has underperformed by 15.62% the S&P500.

EnQuest PLC, together with its subsidiaries, explores for, extracts, and produces hydrocarbons in the United Kingdom Continental Shelf and Malaysia. The company has market cap of 416.91 million GBP. It primarily holds interests in the Heather/Broom, Thistle/Deveron, the Dons area, the Greater Kittiwake Area, Alma/Galia, and Scolty/Crathes; and in the Kraken development, and a non-operated interest in the producing Alba oil field, as well as the PM8/Seligi production sharing contract and the Tanjong Baram risk services contract in Malaysia. It currently has negative earnings. The firm holds interests in 25 production licenses covering 35 blocks or part blocks; and operates 23 licenses.

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