Ensign Energy Services (TSE:ESI) Stock Passes Above Two Hundred Day Moving Average – Time to Sell?

Ensign Energy Services Inc. (TSE:ESI) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$2.44 and traded as high as C$3.17. Ensign Energy Services shares last traded at C$3.14, with a volume of 446,940 shares traded.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ESI. ATB Capital reduced their price objective on 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 target for the company from C$2.50 to C$3.00 in a report on Thursday, October 9th. BMO Capital Markets downgraded shares of Ensign Energy Services from an “outperform” rating to a “hold” rating and set a C$3.50 price objective on the stock. in a report on Monday, December 15th. CIBC upped their price objective on shares of Ensign Energy Services from C$2.50 to C$2.75 in a research report on Wednesday, October 15th. Finally, Atb Cap Markets raised Ensign Energy Services to a “hold” rating in a research report on Thursday, October 30th. Five investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of C$2.90.

Ensign Energy Services Stock Performance

The company has a debt-to-equity ratio of 84.02, a current ratio of 0.98 and a quick ratio of 1.30. The firm has a market cap of C$575.46 million, a P/E ratio of -12.56, a PEG ratio of 202.94 and a beta of 1.52. The stock’s 50 day moving average is C$2.62 and its two-hundred day moving average is C$2.44.

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

Ensign Energy Services Company Profile

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.