Ensign Energy Services (TSE:ESI) Share Price Crosses Above 200-Day Moving Average – Here’s What Happened

Ensign Energy Services Inc. (TSE:ESI) shares passed 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 traded.

Wall Street Analyst Weigh In

ESI has been the topic of a number of analyst reports. BMO Capital Markets downgraded Ensign Energy Services from an “outperform” rating to a “hold” rating and set a C$3.50 target price on the stock. in a research report on Monday, December 15th. ATB Capital lowered 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. Finally, Canadian Imperial Bank of Commerce increased 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. Four investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of C$2.90.

Ensign Energy Services Stock Performance

The stock has a market cap of C$604.78 million, a price-to-earnings ratio of -13.20, a P/E/G ratio of 202.94 and a beta of 1.60. The company has a current ratio of 0.98, a quick ratio of 1.30 and a debt-to-equity ratio of 84.02. The stock’s 50-day moving average is C$2.79 and its 200-day moving average is C$2.51.

Ensign Energy Services (TSE:ESI) last posted its quarterly earnings data on Friday, November 7th. The company reported C($0.02) EPS for the quarter. The company had revenue of C$411.16 million for the quarter. Ensign Energy Services had a net margin of 1.86% and a return on equity of 2.37%. On average, analysts expect 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.