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

Ensign Energy Services Inc. (TSE:ESI)’s share price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$2.44 and traded as high as C$3.17. Ensign Energy Services shares last traded at C$3.14, with a volume of 446,940 shares changing hands.

Analyst Upgrades and Downgrades

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

Ensign Energy Services Stock Performance

The stock’s 50-day moving average price is C$2.62 and its 200 day moving average price is C$2.44. The company has a quick ratio of 1.30, a current ratio of 0.98 and a debt-to-equity ratio of 84.02. The company has a market cap of C$575.46 million, a P/E ratio of -12.56, a price-to-earnings-growth ratio of 202.94 and a beta of 1.52.

Ensign Energy Services (TSE:ESI) last posted its earnings results on Friday, November 7th. The company reported C($0.02) earnings per share (EPS) for the quarter. The firm had revenue of C$411.16 million during the quarter. Ensign Energy Services had a net margin of 1.86% and a return on equity of 2.37%. As a group, research analysts expect 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.