Ensign Energy Services (TSE:ESI) Stock Crosses Above Two Hundred Day Moving Average – Here’s Why

Ensign Energy Services Inc. (TSE:ESI) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$2.56 and traded as high as C$2.83. Ensign Energy Services shares last traded at C$2.83, with a volume of 149,428 shares.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ESI. TD Securities dropped their price target on Ensign Energy Services from C$3.50 to C$3.25 and set a “buy” rating for the company in a report on Tuesday, October 8th. BMO Capital Markets boosted their target price on shares of 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 target on shares of Ensign Energy Services from C$4.50 to C$5.50 in a research report on Tuesday, December 10th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$3.71.

Ensign Energy Services Price Performance

The company has a quick ratio of 1.30, a current ratio of 0.97 and a debt-to-equity ratio of 87.50. The stock has a market capitalization of C$523.46 million, a price-to-earnings ratio of 23.75, a P/E/G ratio of 202.94 and a beta of 3.05. The business’s 50 day simple moving average is C$2.90 and its 200-day simple moving average is C$2.57.

Insider Activity at Ensign Energy Services

In other news, Senior Officer Robert Harold Geddes acquired 50,400 shares of the stock in a transaction dated Tuesday, December 10th. The stock was bought at an average price of C$2.90 per share, with a total value of C$146,160.00. Also, Director Donna Jeanne Carson bought 17,443 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The shares were acquired at an average price of C$2.87 per share, for a total transaction of C$50,061.41. Insiders have bought 74,593 shares of company stock valued at $216,539 over the last three months. 44.90% of the stock is owned by 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.