EnQuest (ENQ)

Sector:

Energy Producers

Index:

FTSE Small Cap

 12.96p
   
  • Change Today:
      0.000p
  • 52 Week High: 18.47
  • 52 Week Low: 12.10
  • Currency: UK Pounds
  • Shares Issued: 1,897.38m
  • Volume: 42,079
  • Market Cap: £245.90m

Jefferies downgrades ratings for Tullow Oil and EnQuest

By Benjamin Chiou

Date: Thursday 04 Jan 2024

LONDON (ShareCast) - (Sharecast News) - Jefferies has downgraded its ratings for UK-listed oil and gas peers Tullow Oil, EnQuest, Capricorn Energy and Pharos Energy as part of its review of the sector on Thursday.
"Bottom-up review of International E&P operational delivery, shareholder returns, growth strategy and executive management tenure allows us to establish the stocks we see as having the strategic vision, capability and capital to deliver market-beating equity returns in the future," Jefferies said in a research note.

However, the broker has reviewed its recommendations for those stocks where its sees growth and returns as "constrained".

Tullow Oil is now rated 'underperform', while EnQuest, Capricorn Energy and Pharos Energy are rated 'hold', while target prices have been slashed by 20% to 30%.

"EnQuest (cut to 'hold') has delivered production to guidance in both 2022 and 2023 but on declining volumes and, overall the stock is down with no direct shareholder return to offset," Jefferies said.

"Onshore Egypt, growth for both Capricorn Energy and Pharos Energy is restricted by receivables (cut to 'hold') and offshore Ghana, Tullow Oil growth is limited as excess capital is used to deleverage, rather than growth (cut to 'underperform')."

Tullow shares were down 3.7% at 37.36p by 1126 GMT, EnQuest fell 6.2% to 14.43p, Capricorn Energy slipped 1.3% to 165.4p while Pharos declined 1.6% to 21.4p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

EnQuest Market Data

Currency UK Pounds
Share Price 12.96p
Change Today 0.000p
% Change 0.00 %
52 Week High 18.47
52 Week Low 12.10
Volume 42,079
Shares Issued 1,897.38m
Market Cap £245.90m

EnQuest Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
97.50% above the market average97.50% above the market average97.50% above the market average97.50% above the market average97.50% above the market average
78.95% above the sector average78.95% above the sector average78.95% above the sector average78.95% above the sector average78.95% above the sector average
Price Trend
44.4% below the market average44.4% below the market average44.4% below the market average44.4% below the market average44.4% below the market average
6.33% above the sector average6.33% above the sector average6.33% above the sector average6.33% above the sector average6.33% above the sector average
Income
58.63% above the market average58.63% above the market average58.63% above the market average58.63% above the market average58.63% above the market average
37.5% below the sector average37.5% below the sector average37.5% below the sector average37.5% below the sector average37.5% below the sector average
Growth
87.2% below the market average87.2% below the market average87.2% below the market average87.2% below the market average87.2% below the market average
100% below the sector average100% below the sector average100% below the sector average100% below the sector average100% below the sector average

What The Brokers Say

Strong Buy 1
Buy 1
Neutral 2
Sell 0
Strong Sell 0
Total 4
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

EnQuest Dividends

No dividends found

Trades for 23-Jul-2024

Time Volume / Share Price
10:01 9,340 @ 12.81p
09:53 15,384 @ 12.94p
09:45 15,048 @ 13.00p
08:00 2,307 @ 13.03p

EnQuest Key Personnel

CEO Amjad Bseisu
CFO Jonathan Copus

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