Ensign Energy Services (TSE:ESI) Shares Pass Above 200 Day Moving Average – Here’s What Happened

Ensign Energy Services Inc. (TSE:ESI) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$2.51 and traded as high as C$3.30. Ensign Energy Services shares last traded at C$3.30, with a volume of 191,659 shares.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Canadian Imperial Bank of Commerce increased their price target on shares of Ensign Energy Services from C$2.50 to C$2.75 in a report on Wednesday, October 15th. BMO Capital Markets downgraded 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 report on Monday, December 15th. Finally, ATB Capital reduced their target price 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. Four equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of C$2.90.

Ensign Energy Services Stock Up 5.8%

The company has a quick ratio of 1.30, a current ratio of 0.98 and a debt-to-equity ratio of 84.02. The stock has a 50-day simple moving average of C$2.79 and a two-hundred day simple moving average of C$2.51. The firm has a market cap of C$604.78 million, a PE ratio of -13.20, a P/E/G ratio of 202.94 and a beta of 1.60.

Ensign Energy Services (TSE:ESI) last posted its quarterly earnings data on Friday, November 7th. The company reported C($0.02) earnings per share (EPS) for the quarter. The firm 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%. Analysts expect that Ensign Energy Services Inc. will post 0.2901354 earnings per share 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.