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Share Name Share Symbol Market Type Share ISIN Share Description
Enteq Upstream LSE:NTQ London Ordinary Share GB00B41Q8Q68 ORD 1P
  Price Change % Change Share Price Shares Traded Last Trade
  -0.50p -2.17% 23.00p 0 08:00:19
Bid Price Offer Price High Price Low Price Open Price
21.00p 25.00p 23.00p 23.00p 23.00p
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 4.61 -0.43 -0.71 14.2

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Date Time Title Posts
08/1/201914:09Enteq Upstream plc871
15/9/201506:14*** Enteq Upstream ***2

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Enteq Upstream Daily Update: Enteq Upstream is listed in the Oil & Gas Producers sector of the London Stock Exchange with ticker NTQ. The last closing price for Enteq Upstream was 23p.
Enteq Upstream has a 4 week average price of 18p and a 12 week average price of 18p.
The 1 year high share price is 40p while the 1 year low share price is currently 18p.
There are currently 61,819,682 shares in issue and the average daily traded volume is 4,232 shares. The market capitalisation of Enteq Upstream is £14,218,526.86.
1gw: Nice rns. Can the share price please take note.
rivaldo: Good interim results today, with steady improvement in all respects. No "excitement" as such, so unsurprising to see the share price drift a little in these markets, but the outlook is going in the right direction. I note the North American rig count has continued to increase slightly since the 30th September interims date, even with the oil price falling. - NTQ still have over £9m of cash against the £15m m/cap - they achieved $0.7m cash inflow in H1 before working capital movements - international sales increasing nicely to Saudi, China, Russia etc - new technologies being released commercially and patents published - geothermal drilling sales being made in the Far East and Europe Another set of decent results, with a contract win or two, could see the share price back to 40p assuming the oil price stays at current levels or better.
1gw: Well I get the 60%+ YoY growth in revenue, but not highlighted (as a %) on the front page - have to go to "Overview of results" to see: "The first half revenue of US$4.2m represented a rise of 66% over the US$2.5m for the first half of last year..." It doesn't translate very far down the income statement though, being more than offset by increases in COS and admin. Very good to see the growth in adj EBITDA to $0.6m. [Note there's a mistake in the adjusted earnings line I think - should be (261), not (61)] Good also to see the $0.7m operating cashflow before changes in working capital. WC eats it up though with inventory up by the same amount and receivables up, payables down, meaning $1.4m net cash outflow on operating activities. So revenue strongly up (YoY), profitable at the adj EBITDA level, investing to grow and net assets per share still looking good relative to the share price, although the cash component of that coming down. [errors excepted]
rivaldo: The latest issue of Master Investor magazine is out today, and there's a feature on "picks and shovels" companies in the oil and gas sector - one of which is NTQ. It concludes: Https:// "Valuation Despite the oil price having risen by around 11% since Enteq's upbeat April trading statement, the shares have slipped back from their May peak of 40p to the current 26p. That currently values the business at £16.3 million. The real kicker to the investment case here comes in the form of Enteq's large cash pile, which stood at $15.5 million (£11.8 million) at the end of March. This rose by $0.2 million over the year despite statutory losses of $0.6 million being posted. Management did well to preserve funds, with a $2.5 million working capital inflow being a highlight. So if we strip the cash out of the valuation, the markets are currently valuing Enteq's operations at just £4.5 million. With brokers looking for c.$1 million of pre-tax profits for the year to March 2020, the shares will look very cheap if forecasts are hit. Share price catalysts along the way will be the upcoming interims in November and further positive trading updates."
rivaldo: SVS Deep Value Fund are keen - "very cheap and there is a clear expectation that better business performance will emerge in the not too distant future": Https:// "Drilling down on Enteq Upstream – view from a value investor 23 July 2018, 11:57 One of the longer term holdings in the SVS Church House Deep Value Fund (B79XM02), Enteq Upstream (NTQ:AIM) ‘came back to life with a bang during April’, according to portfolio manager Jeroen Bos (pictured below). At 32.5p, Enteq’s shares are up 33% on the 24.5p average paid during 2014, although they’ve recently been as high as 40p for a 63% paper gain and Bos believes this stock ‘should do very well over time, with the much improved outlook for the oil price.' BOOST FOR BOS The oil services business released an upbeat trading statement during April that has caused the share price to jump, providing a boost for Bos’ SVS Church House Deep Value Fund, a concentrated portfolio of holdings exhibiting deep value characteristics seeking to generate long-term capital growth for investors. ‘In this statement, management stated: “The board is pleased to report that both full year revenues and underlying EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortisation) are expected to be significantly ahead of its expectations’, says Bos. He continues: ‘The company has been listed since 2014, and the highly regarded management team had expectations that Enteq Upstream would become a consolidator in the sector by buying smaller oil services companies, a process they had previously, very successfully, undertaken with a different company. Enteq Upstream is this management team’s second incarnation and the aim was to repeat a very successful operating model.’ ‘Due to the collapse in the oil price, the company struggled to execute this strategy, so management instead concentrated on protecting the business during the downturn and not committing funds while the market was in free-fall. Apart from one purchase, it continued to protect cash reserves to such an extent, that at the low point, cash on the balance sheet was greater than the company’s market capitalisation.’ ‘By this stage it could be said that the company was truly cheap, albeit operating in a very, temporarily, difficult sector. Fast forward to April 2018 and an encouraging trading statement was all that was needed to propel the shares to higher levels. With profitability expected to make an appearance and an improving oil industry outlook, we should expect the shares to move to higher levels in the future,’ says Bos. ‘This is a great example of value investing. We buy shares that appear to be deeply depressed, but on balance sheet terms they are very cheap and there is a clear expectation that better business performance will emerge in the not too distant future.’"
1gw: I'm not sure anyone really covers Enteq, do they? I picked up an Investec note as a result of attending last year's AGM. The note was dated June 2017 and just looking on Barclays now, what Barclays is presenting as "current" forecasts look suspiciously like the numbers in the Investec note. But it looks to me like the share price closed at 24.5p on 17th April, the day before the TU, so I have to think the current share price reflects much upgraded expectations, whether or not those expectations are reflected anywhere in a broker forecast.
firtashia: AFAIK, despite the TU there were no subsequent upgrades to broker forecasts. The only forecasts I can find were last updated in Sep 17 which showed NTQ was expected to be loss making (EPS -1.13P, PBT -£0.7m). So any move into profitability should hopefully surprise the market positively and boost the share price.
1gw: Heck of a share price trend recently. Happy days.
1gw: Looks like some fairly serious selling down by our deep value fund, so the share price is doing pretty well to stay put, never mind increase imo.
1gw: This is a frustrating share at times. Oil price (WTI) comfortably over $60/bbl, articles all over the place about growing US production and yet the share price can't seem to get near net asset value. IMO this should be a company valued as poised for significant growth, not a company valued on a going-out-of-business basis. I suppose it doesn't help that a fund with "deep value" in the title has just sold down. I can only assume that some would-be investors are sitting on their hands waiting for an April trading statement to see if the company really is sufficiently well-resourced to respond to the better oil price environment. Shouldn't be too long to wait now.
Enteq Upstream share price data is direct from the London Stock Exchange
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