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

Ensign Energy Services Inc. (TSE:ESI) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$2.41 and traded as high as C$2.88. Ensign Energy Services shares last traded at C$2.78, with a volume of 148,904 shares trading hands.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on ESI shares. CIBC raised their target price on Ensign Energy Services from C$2.50 to C$2.75 in a research note on Wednesday, October 15th. Atb Cap Markets raised Ensign Energy Services to a “hold” rating in a research report on Thursday, October 30th. ATB Capital lowered their price target on shares of Ensign Energy Services from C$3.25 to C$3.00 and set a “sector perform” rating for the company in a report on Friday, December 19th. BMO Capital Markets downgraded shares of Ensign Energy Services from an “outperform” rating to a “hold” rating and set a C$3.50 price objective for the company. in a research report on Monday, December 15th. Finally, Royal Bank Of Canada downgraded Ensign Energy Services from a “moderate buy” rating to a “hold” rating and increased their price objective for the company from C$2.50 to C$3.00 in a report on Thursday, October 9th. Five equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, Ensign Energy Services presently has an average rating of “Hold” and a consensus price target of C$2.90.

Ensign Energy Services Trading Up 2.2%

The company has a debt-to-equity ratio of 84.02, a current ratio of 0.98 and a quick ratio of 1.30. The business’s 50 day moving average price is C$2.56 and its 200-day moving average price is C$2.41. The firm has a market capitalization of C$509.48 million, a price-to-earnings ratio of -11.12, a price-to-earnings-growth ratio of 202.94 and a beta of 1.52.

Ensign Energy Services (TSE:ESI) last announced its quarterly earnings data on Friday, November 7th. The company reported C($0.02) EPS for the quarter. Ensign Energy Services had a net margin of 1.86% and a return on equity of 2.37%. The firm had revenue of C$411.16 million during the quarter. Equities analysts forecast that Ensign Energy Services Inc. will post 0.2901354 EPS for the current fiscal year.

About Ensign Energy Services

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.