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
  +0.00p +0.00% 29.00p 327 14:00:20
Bid Price Offer Price High Price Low Price Open Price
28.00p 30.00p 29.00p 28.40p 29.00p
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 4.61 -0.43 -0.71 17.9

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Date Time Title Posts
13/9/201811:08Enteq Upstream plc828
15/9/201507:14*** 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 29p.
Enteq Upstream has a 4 week average price of 28p and a 12 week average price of 28p.
The 1 year high share price is 40p while the 1 year low share price is currently 20p.
There are currently 61,819,682 shares in issue and the average daily traded volume is 8,671 shares. The market capitalisation of Enteq Upstream is £17,927,707.78.
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: "Significantly ahead" you beauty. Let's see if that can get the share price moving.
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.
1gw: I was quite favourably impressed, but clearly difficult to get a proper read from a single meeting. Someone (CEO or CFO) made a comment, in response to my observation on the share price in relation to cash holdings, that they had attracted some deep value investors for precisely this reason, so I think they are aware of their shareholder base. The other thing that I think is relevant here is the way in which they have reduced cash expenses in order to preserve cash over the downturn. This has included reducing the size of the board (chairman leaving the company and COO leaving the board) and taking shares in lieu of salary (see 16th Dec 2016 rns for example). So their actions to me suggest a sensitivity towards shareholder concerns.
dacian: Thank you 1gw, no chance of returning some to shareholders then. What was your gut feeling about the ceo/management (I never met them) , do you think they care about the share price?! do they care about shareholder returns or they're just happy to run the co for a living. That would be my main reluctance in going overweight here. My understanding from their post crisis financial statements is that they'll go for organic and profitable growth this time, I'd much prefer that.
1gw: Well just to be boring I've bought some more - at 20.7p. NTQ now my top holding despite the fall in share price from the highs.
Enteq Upstream share price data is direct from the London Stock Exchange
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