Ensign Energy Services (TSE:ESI) Shares Pass Above Two Hundred Day Moving Average – Here’s Why

Ensign Energy Services Inc. (TSE:ESI)’s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$2.39 and traded as high as C$2.55. Ensign Energy Services shares last traded at C$2.45, with a volume of 45,903 shares.

Analysts Set New Price Targets

ESI has been the subject of several recent research reports. ATB Capital lowered their price objective on shares of Ensign Energy Services from C$3.25 to C$3.00 and set a “sector perform” rating for the company in a research report on Friday, December 19th. Royal Bank Of Canada downgraded shares of Ensign Energy Services from a “moderate buy” rating to a “hold” rating and increased their price objective for the company from C$2.50 to C$3.00 in a research note on Thursday, October 9th. Atb Cap Markets raised shares of Ensign Energy Services to a “hold” rating in a research report on Thursday, October 30th. BMO Capital Markets cut Ensign Energy Services from an “outperform” rating to a “hold” rating and set a C$3.50 price objective on the stock. in a research note on Monday, December 15th. Finally, CIBC increased their price target on Ensign Energy Services from C$2.50 to C$2.75 in a research report on Wednesday, October 15th. Five investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of C$2.90.

Ensign Energy Services Stock Down 1.6%

The stock has a 50 day moving average price of C$2.55 and a 200 day moving average price of C$2.39. The company has a market cap of C$449.00 million, a P/E ratio of -9.80, a P/E/G ratio of 202.94 and a beta of 1.57. The company has a debt-to-equity ratio of 84.02, a quick ratio of 1.30 and a current ratio of 0.98.

Ensign Energy Services (TSE:ESI) last released its earnings results on Friday, November 7th. The company reported C($0.02) EPS for the quarter. The business had revenue of C$411.16 million during the quarter. Ensign Energy Services had a return on equity of 2.37% and a net margin of 1.86%. Research analysts expect that Ensign Energy Services Inc. will post 0.2901354 earnings per share for the current fiscal year.

About Ensign Energy Services

Ensign Energy Services Inc offers services in drilling and well servicing, oil sands coring, directional drilling, underbalanced and managed pressure drilling, equipment rentals, transportation, wireline services, and production testing services. Ensign produces enhanced drilling with the help of its proprietary automated drilling rigs. The automated drilling rigs are built for improved safety and a reduced environmental footprint. Most of the company’s revenue is derived from the United States and Canada.