Ensign Energy Services (TSE:ESI) Shares Cross Above 200 Day Moving Average – What’s Next?

Shares of 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$3.26 and traded as high as C$4.31. Ensign Energy Services shares last traded at C$4.09, with a volume of 442,329 shares traded.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Royal Bank Of Canada upped their price objective on Ensign Energy Services from C$3.50 to C$4.00 and gave the stock a “sector perform” rating in a research note on Tuesday, April 14th. ATB Cormark Capital Markets upgraded Ensign Energy Services from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from C$4.00 to C$5.00 in a research report on Tuesday, May 12th. Finally, TD upped their price target on Ensign Energy Services from C$3.50 to C$3.75 and gave the stock a “hold” rating in a research report on Friday, May 8th. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of C$3.80.

Ensign Energy Services Trading Down 4.7%

The company has a quick ratio of 1.30, a current ratio of 1.31 and a debt-to-equity ratio of 75.31. The stock has a fifty day simple moving average of C$3.82 and a 200 day simple moving average of C$3.26. The firm has a market capitalization of C$754.00 million, a P/E ratio of -14.10, a PEG ratio of 202.94 and a beta of 1.28.

Ensign Energy Services (TSE:ESI) last posted its quarterly earnings results on Thursday, May 7th. The company reported C($0.06) EPS for the quarter. The business had revenue of C$418.03 million for the quarter. Ensign Energy Services had a negative net margin of 3.31% and a negative return on equity of 4.13%. As a group, research analysts forecast that Ensign Energy Services Inc. will post 0.2901354 EPS for the current year.

Ensign Energy Services Company Profile

Ensign is a global leader in oilfield services, headquartered out of Calgary, Alberta, operating in Canada, the United States and internationally. We are one of the world’s top land-based drilling and well servicing contractors serving crude oil, natural gas, and geothermal operators. Our premium services include contract drilling, directional drilling, underbalanced and managed pressure drilling, rental equipment and well servicing. Please visit our website at www.ensignenergy.com.