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

Ensign Energy Services Inc. (TSE:ESI)’s stock price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$3.39 and traded as high as C$4.24. Ensign Energy Services shares last traded at C$3.91, with a volume of 123,703 shares traded.

Wall Street Analyst Weigh In

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

Ensign Energy Services Price Performance

The company has a current ratio of 1.31, a quick ratio of 1.30 and a debt-to-equity ratio of 75.31. The business has a fifty day simple moving average of C$3.93 and a 200 day simple moving average of C$3.39. The stock has a market capitalization of C$720.81 million, a P/E ratio of -13.48, a price-to-earnings-growth ratio of 202.94 and a beta of 1.00.

Ensign Energy Services (TSE:ESI) last issued its quarterly earnings data on Thursday, May 7th. The company reported C($0.06) EPS for the quarter. The company had revenue of C$418.03 million for the quarter. Ensign Energy Services had a negative return on equity of 4.13% and a negative net margin of 3.31%. On average, analysts expect that Ensign Energy Services Inc. will post 0.2901354 earnings per share for the current year.

About Ensign Energy Services

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.