Ensign Energy Services (TSE:ESI) Stock Crosses Above 200-Day Moving Average – Time to Sell?

Ensign Energy Services Inc. (TSE:ESI)’s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$2.83 and traded as high as C$2.88. Ensign Energy Services shares last traded at C$2.76, with a volume of 314,129 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on ESI shares. BMO Capital Markets lifted their target price on Ensign Energy Services from C$3.25 to C$3.50 in a report on Monday, November 4th. ATB Capital lifted their price objective on Ensign Energy Services from C$4.50 to C$5.50 in a research report on Tuesday, December 10th. Finally, TD Securities lowered Ensign Energy Services from a “buy” rating to a “hold” rating and dropped their price objective for the stock from C$3.25 to C$3.00 in a research note on Monday, February 3rd. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of C$3.67.

Ensign Energy Services Price Performance

The firm has a market cap of C$509.76 million, a P/E ratio of 16.14, a PEG ratio of 202.94 and a beta of 3.05. The business has a fifty day moving average of C$3.09 and a 200 day moving average of C$2.83. The company has a quick ratio of 1.30, a current ratio of 0.98 and a debt-to-equity ratio of 84.02.

Insider Transactions at Ensign Energy Services

In related news, Director Cary A. Moomjian Jr. acquired 10,000 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were bought at an average price of C$2.97 per share, with a total value of C$29,694.00. Also, Senior Officer Brent John Conway sold 35,000 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of C$2.86, for a total transaction of C$100,100.00. Company insiders own 44.90% of the company’s stock.

About Ensign Energy Services

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.