EnQuest positions itself for long-term growth
7th Sep 2018 10:21
(Sharecast News) - EnQuest issued its results for the six months ended 30 June on Friday, reporting increased revenue of $548.3m, up from $294.8m, and EBITDA of $311.9m, compared to $151.0m a year earlier.
Read moreEnQuest on track for delivery of first Kraken oil in Q2 2017
17th Feb 2017 14:11
(ShareCast News) - EnQuest says it is on track for delivery of first oil from the Kraken development in Q2 2017 after the floating production storage & offloading vessel's arrival on the field. The vessel arrived on 13 February, with the hook up of the submerged-turret-production buoy mooring system
Read moreEnQuest boosted by UBS upgrade to 'buy'
13th Feb 2017 10:19
(ShareCast News) - Exploration and production group EnQuest got a boost on Monday as UBS upgraded the stock to 'buy' from 'neutral' and upped the price target to 65p from 60p. The bank had downgraded its stance to 'neutral' in January, saying that although the company's cash flow was impressive, a 1
Read moreEnQuest to acquire 25% of BP's Magnus oil field
24th Jan 2017 11:05
(ShareCast News) - EnQuest, oil and gas development and production company, has agreed to acquire an initial 25% interest in Magnus oil field from British Petroleum (BP) for $85m. In addition to this, a 3% interest in the Sullom Voe oil terminal and supply facility, 9% of the Northern Leg Gas Pip
Read moreMonday broker round-up
9th Jan 2017 17:00
(ShareCast News) - Reckitt Benckiser: Berenberg reiterates hold with a target price of 7300p. EnQuest: Jefferies upgrades to buy with a 64p target. Booker: HSBC stays at buy with a 220p target. Anglo American: Barclays reiterates overweight with a 350p target. ICAP: HSBC upgrades to buy with a 52
Read moreEnQuest raises £82m in placing
17th Nov 2016 11:28
(ShareCast News) - EnQuest confirmed the success of its placing and open offer on Thursday, raising a fresh £82m in the process. The firm had announced its intention to raise gross proceeds of approximately £82m from the issuance of equity on 13 October, by way of a placing and open offer of 356,738
Read moreEnQuest raises £82m in financial restructure
13th Oct 2016 10:57
(ShareCast News) - EnQuest announced the launch of a proposed issuance of equity on Thursday, by way of a placing and open offer of 356,738,114 new ordinary shares. The London-listed firm confirmed the issue price as 23p per share, and expected to raise proceeds of approximately £82m, or £78.1m net
Read moreEnQuest downgraded by Barclays despite rise in oil prices
23rd Sep 2016 09:28
(ShareCast News) - Barclays cut its price target on Enquest shares, the UK's largest independent oil producer in the North Sea, and downgraded them from 'equalweight' to 'underweight', on the expectation that the funding options open to the company would dilute owners of the stock. The broker slashe
Read moreEnQuest, Delek Group end talks over Kraken development
15th Sep 2016 07:50
(ShareCast News) - Oil producer EnQuest has ended talks with Israel's Delek Group over a potential sale of a stake in the Kraken development in the North Sea. "EnQuest and Delek have ultimately been unable to reach an agreement and those discussions have now terminated." EnQuest had said back in Ju
Read moreMonday broker round-up
12th Sep 2016 09:24
(ShareCast News) - Autotrader: Barclays reiterates equal-weight with a target price of 375p. Hikma: Jefferies maintains buy with a 2500p target. Wood Group: Exane BNP Paribas upgrades to buy with a 815p target. Man Group: Citigroup upgrades to buy with a 137p target. McCarthy & Stone: Goldman Sac
Read moreFriday broker round-up
9th Sep 2016 13:37
(ShareCast News) - Merlin Entertainments: UBS reiterates buy with a target price of 540p. Fenner: Jefferies maintains buy with a 205p target. Randgold Resources: UBS upgrades to buy with a 9750p target. Lloyds: Berenberg reiterates hold with a 55p target. BAE Systems: Goldman Sachs keeps at buy w
Read moreEnQuest reports 'robust' first half despite low oil price
8th Sep 2016 14:23
(ShareCast News) - EnQuest posted its results for the six months to 30 June on Thursday, with strong production growth of 43% year-on-year to 42,520 barrels of oil equivalent per day. The London-listed firm said it is delivering against its strategic priorities in the continuing low oil price enviro
Read moreBroker tips: UK engineers, EnQuest, IG Group
16th Aug 2016 12:31
(ShareCast News) - Rotork, Spectris and Halma were under the cosh on Tuesday after HSBC downgraded its ratings on both stocks as it took a look at UK engineers. The bank cut Rotork to 'reduce' from 'hold' and trimmed the target price to 180p from 200p, pointing to poor visibility and margin pressure
Read moreCanaccord cuts rating on Enquest to 'hold' from 'buy'
16th Aug 2016 08:59
(ShareCast News) - Canaccord Genuity cut its rating on Enquest to 'hold' from 'buy' and lowered its price target to 32p from 50p on Tuesday. The oil and gas company on Monday said it is in talks to farm out a 20% working interest in the Kraken development to Delek Group. The deal would reduce Enque
Read moreUBS upgrades Cairn Energy
5th Aug 2016 10:14
(ShareCast News) - The value in Cairn Energy´s shares was underappreciated, analysts at UBS said, pointing out various sources of potential upside for the stock to back up their case. For starters, the oil exploration outfit was set to test projects in Senegal that might give it access to several hu
Read more