Ensign Energy Services (TSE:ESI) Stock Price Down 6.2%

Ensign Energy Services Inc. (TSE:ESI)’s share price was down 6.2% during mid-day trading on Friday . The stock traded as low as C$2.44 and last traded at C$2.44. Approximately 39,463 shares were traded during mid-day trading, a decline of 91% from the average daily volume of 420,067 shares. The stock had previously closed at C$2.60.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on ESI shares. Royal Bank of Canada upped their target price on shares of Ensign Energy Services from C$3.00 to C$3.75 and gave the company an “outperform” rating in a research note on Tuesday, August 8th. Stifel Nicolaus reduced their target price on shares of Ensign Energy Services from C$4.00 to C$3.50 in a research note on Tuesday, October 24th. CIBC lifted their target price on Ensign Energy Services from C$3.50 to C$4.00 and gave the stock a “neutral” rating in a research report on Monday, October 16th. Finally, BMO Capital Markets upped their price target on Ensign Energy Services from C$3.00 to C$4.50 and gave the company an “outperform” rating in a report on Tuesday, August 8th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Ensign Energy Services has an average rating of “Moderate Buy” and a consensus target price of C$4.71.

Ensign Energy Services Trading Down 9.6 %

The company has a debt-to-equity ratio of 104.14, a current ratio of 0.25 and a quick ratio of 1.30. The business’s 50 day simple moving average is C$3.10 and its 200 day simple moving average is C$2.60. The stock has a market cap of C$431.67 million, a P/E ratio of 9.04, a PEG ratio of 202.94 and a beta of 3.06.

Ensign Energy Services (TSE:ESI) last issued its earnings results on Friday, August 4th. The company reported C$0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.02 by C$0.04. The business had revenue of C$432.77 million during the quarter, compared to analysts’ expectations of C$426.35 million. Ensign Energy Services had a return on equity of 3.58% and a net margin of 2.43%. On average, analysts expect that Ensign Energy Services Inc. will post 0.4503546 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Senior Officer Robert Harold Geddes bought 250,000 shares of Ensign Energy Services stock in a transaction dated Monday, October 16th. The shares were bought at an average price of C$2.99 per share, for a total transaction of C$746,675.00. Corporate insiders own 38.44% of the company’s stock.

About Ensign Energy Services

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 services.