CIBC Increases Ensign Energy Services (TSE:ESI) Price Target to C$4.50

Ensign Energy Services (TSE:ESIGet Rating) had its price target lifted by CIBC from C$3.25 to C$4.50 in a research note issued to investors on Thursday, BayStreet.CA reports. The brokerage currently has a neutral rating on the stock.

ESI has been the topic of several other reports. Raymond James raised Ensign Energy Services from a market perform rating to an outperform rating and upped their price target for the company from C$2.20 to C$5.25 in a research report on Tuesday, April 5th. Royal Bank of Canada upgraded Ensign Energy Services from a sector perform rating to a buy rating and upped their price objective for the stock from C$3.25 to C$6.00 in a research note on Wednesday. ATB Capital boosted their price target on shares of Ensign Energy Services from C$4.75 to C$5.50 and gave the company an outperform rating in a report on Wednesday, March 2nd. Stifel Firstegy raised shares of Ensign Energy Services from a hold rating to a buy rating in a report on Sunday, March 27th. Finally, TD Securities raised shares of Ensign Energy Services from a hold rating to a speculative buy rating and increased their price objective for the stock from C$2.50 to C$3.75 in a report on Monday, March 7th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Buy and an average target price of C$4.36.

ESI stock opened at C$4.41 on Thursday. 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 firm has a market cap of C$714.28 million and a P/E ratio of -4.50. Ensign Energy Services has a 12-month low of C$1.00 and a 12-month high of C$4.64. The stock’s 50 day simple moving average is C$3.05 and its 200 day simple moving average is C$2.30.

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

In other news, Director Cary A. Moomjian Jr. sold 142,000 shares of the firm’s stock in a transaction dated 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 transaction, the director now owns 348,762 shares in the company, valued at approximately C$1,547,136.83. Also, Senior Officer Michael Gray sold 15,016 shares of the firm’s stock in a transaction dated Tuesday, February 8th. The shares were sold at an average price of C$2.24, for a total transaction of C$33,635.84. Following the transaction, the insider now owns 6,439 shares of the company’s stock, valued at approximately C$14,423.36.

Ensign Energy Services Company Profile (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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Analyst Recommendations for Ensign Energy Services (TSE:ESI)

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