Ensign Energy Services (TSE:ESI) Share Price Breaks Below 200 Day Moving Average – Time to Sell?

Shares of Ensign Energy Services Inc. (TSE:ESI) passed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of C$3.68 and traded as low as C$3.65. Ensign Energy Services shares last traded at C$3.67, with a volume of 483,760 shares changing hands.

Analyst Ratings Changes

Several brokerages have recently commented on ESI. TD Securities upgraded shares of Ensign Energy Services from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 20th. TD upgraded shares of Ensign Energy Services from a “hold” rating to a “buy” rating and increased their price target for the stock from C$3.50 to C$4.75 in a research report on Tuesday, October 20th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$4.31.

Ensign Energy Services Trading Down 3.9%

The company has a current ratio of 1.24, a quick ratio of 1.30 and a debt-to-equity ratio of 73.88. The firm has a market capitalization of C$676.48 million, a P/E ratio of -16.68, a P/E/G ratio of 202.94 and a beta of 1.41. The firm has a 50-day moving average of C$3.84 and a two-hundred day moving average of C$3.68.

Ensign Energy Services (TSE:ESI) last released its quarterly earnings data on Friday, November 6th. The company reported C$0.06 earnings per share for the quarter. The business had revenue of C$481.71 million for the quarter. Ensign Energy Services had a negative return on equity of 3.11% and a negative net margin of 2.45%. On average, analysts anticipate that Ensign Energy Services Inc. will post 0.29 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.