Ensign Energy Services (TSE:ESI) Rating Increased to Buy at Royal Bank of Canada

Ensign Energy Services (TSE:ESIGet Rating) was upgraded by research analysts at Royal Bank of Canada from a “sector perform” rating to a “buy” rating in a report released on Wednesday, Marketbeat Ratings reports. The firm currently has a C$6.00 price objective on the stock, up from their previous price objective of C$3.25. Royal Bank of Canada’s price target indicates a potential upside of 36.05% from the company’s current price.

Other research analysts have also recently issued research reports about the stock. Raymond James upgraded shares of Ensign Energy Services from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from C$2.20 to C$5.25 in a research note on Tuesday, April 5th. TD Securities upgraded Ensign Energy Services from a “hold” rating to a “speculative buy” rating and lifted their target price for the company from C$2.50 to C$3.75 in a research report on Monday, March 7th. CIBC upped their price target on Ensign Energy Services from C$2.75 to C$3.25 in a research report on Thursday, March 3rd. ATB Capital lifted their price objective on Ensign Energy Services from C$4.75 to C$5.50 and gave the company an “outperform” rating in a research report on Wednesday, March 2nd. Finally, Stifel Firstegy upgraded Ensign Energy Services from a “hold” rating to a “buy” rating in a research note on Sunday, March 27th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of C$4.36.

ESI stock traded down C$0.08 during trading on Wednesday, reaching C$4.41. The stock had a trading volume of 387,507 shares, compared to its average volume of 765,163. The firm has a market cap of C$714.28 million and a PE ratio of -4.50. The company has a current ratio of 1.56, a quick ratio of 1.30 and a debt-to-equity ratio of 122.21. The stock’s 50 day moving average is C$3.01 and its two-hundred day moving average is C$2.28. Ensign Energy Services has a 52 week low of C$1.00 and a 52 week high of C$4.64.

Ensign Energy Services (TSE:ESIGet Rating) last released its quarterly earnings results on Friday, March 4th. The company reported C($0.18) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of C($0.17) by C($0.01). The firm had revenue of C$296.17 million for the quarter, compared to analysts’ expectations of C$300.65 million. On average, research analysts anticipate that Ensign Energy Services will post -0.12 EPS for the current year.

In related news, Senior Officer Robert Harold Geddes bought 13,000 shares of the business’s stock in a transaction that occurred on Friday, March 18th. The stock was bought at an average cost of C$2.98 per share, with a total value of C$38,740.00. Following the completion of the purchase, the insider now owns 1,268,806 shares of the company’s stock, valued at approximately C$3,781,041.88. Also, Director Cary A. Moomjian Jr. sold 142,000 shares of Ensign Energy Services stock in a transaction on Wednesday, April 13th. The shares were sold at an average price of C$4.44, for a total transaction of C$629,923.64. Following the completion of the sale, the director now owns 348,762 shares in the company, valued at C$1,547,136.83.

About Ensign Energy Services (Get Rating)

Ensign Energy Services Inc, together with its subsidiaries, provides oilfield services to the crude oil and natural gas industries in Canada, the United States, and internationally. The company offers shallow, intermediate, and deep well drilling, as well as specialized drilling services, including horizontal, underbalanced, horizontal re-entry, and slant drilling for steam assisted gravity drainage applications; and equipment and other services.

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