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

Ensign Energy Services Inc. (TSE:ESI)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$3.55 and traded as high as C$3.58. Ensign Energy Services shares last traded at C$3.52, with a volume of 234,335 shares changing hands.

Analysts Set New Price Targets

ESI has been the topic of several analyst reports. TD reduced their price objective on Ensign Energy Services from C$3.75 to C$3.50 and set a “hold” rating on the stock in a research note on Monday, July 13th. Royal Bank Of Canada raised their price objective on Ensign Energy Services from C$3.50 to C$4.00 and gave the company a “sector perform” rating in a research note on Tuesday, April 14th. Finally, ATB Cormark Capital Markets upgraded Ensign Energy Services from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from C$4.00 to C$5.00 in a report on Tuesday, May 12th. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Ensign Energy Services presently has an average rating of “Hold” and a consensus price target of C$3.75.

Ensign Energy Services Price Performance

The company has a current ratio of 1.31, a quick ratio of 1.30 and a debt-to-equity ratio of 75.31. The company has a market capitalization of C$648.92 million, a PE ratio of -12.14, a price-to-earnings-growth ratio of 202.94 and a beta of 1.15. The stock’s 50-day moving average is C$3.81 and its two-hundred day moving average is C$3.55.

Ensign Energy Services (TSE:ESI) last announced its earnings results on Thursday, May 7th. The company reported C($0.06) earnings per share (EPS) for the quarter. The business had revenue of C$418.03 million for the quarter. Ensign Energy Services had a negative net margin of 3.31% and a negative return on equity of 4.13%. On average, equities analysts predict that Ensign Energy Services Inc. will post 0.2901354 EPS for the current year.

About Ensign Energy Services

Ensign is a global leader in oilfield services, headquartered out of Calgary, Alberta, operating in Canada, the United States and internationally. We are one of the world’s top land-based drilling and well servicing contractors serving crude oil, natural gas, and geothermal operators. Our premium services include contract drilling, directional drilling, underbalanced and managed pressure drilling, rental equipment and well servicing. Please visit our website at www.ensignenergy.com.