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

Shares of Ensign Energy Services Inc. (TSE:ESI) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$2.78 and traded as high as C$3.07. Ensign Energy Services shares last traded at C$3.06, with a volume of 310,343 shares traded.

Wall Street Analyst Weigh In

ESI has been the subject of a number of research reports. TD Securities downgraded Ensign Energy Services from a “buy” rating to a “hold” rating and reduced their price objective for the stock from C$3.25 to C$3.00 in a research report on Monday, February 3rd. BMO Capital Markets raised their price objective on Ensign Energy Services from C$3.25 to C$3.50 in a research report on Monday, November 4th. Finally, ATB Capital raised their price objective on Ensign Energy Services from C$4.50 to C$5.50 in a research report on Tuesday, December 10th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Ensign Energy Services has a consensus rating of “Hold” and an average target price of C$3.67.

Ensign Energy Services Price Performance

The company has a debt-to-equity ratio of 87.50, a quick ratio of 1.30 and a current ratio of 0.97. The firm has a market cap of C$562.03 million, a P/E ratio of 25.50, a P/E/G ratio of 202.94 and a beta of 3.05. The company has a 50-day moving average of C$3.05 and a 200 day moving average of C$2.78.

Insider Buying and Selling

In other Ensign Energy Services news, Senior Officer Brent John Conway sold 35,000 shares of Ensign Energy Services stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of C$2.86, for a total value of C$100,100.00. Also, Director Cary A. Moomjian Jr. acquired 10,000 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was acquired at an average price of C$2.97 per share, with a total value of C$29,694.00. 44.90% of the stock is owned by corporate insiders.

Ensign Energy Services Company Profile

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.