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

Ensign Energy Services Inc. (TSE:ESI)’s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$3.39 and traded as high as C$4.24. Ensign Energy Services shares last traded at C$3.91, with a volume of 123,703 shares trading hands.

Wall Street Analyst Weigh In

ESI has been the subject of a number of research reports. Royal Bank Of Canada increased their target price on shares of Ensign Energy Services from C$3.50 to C$4.00 and gave the company a “sector perform” rating in a research report on Tuesday, April 14th. ATB Cormark Capital Markets raised shares of Ensign Energy Services from a “sector perform” rating to an “outperform” rating and increased their target price for the company from C$4.00 to C$5.00 in a research report on Tuesday, May 12th. Finally, TD increased their target price on shares of Ensign Energy Services from C$3.50 to C$3.75 and gave the company a “hold” rating in a research report on Friday, May 8th. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of C$3.80.

Ensign Energy Services Stock Down 2.0%

The company has a market capitalization of C$720.81 million, a PE ratio of -13.48, a PEG ratio of 202.94 and a beta of 1.00. The company has a debt-to-equity ratio of 75.31, a quick ratio of 1.30 and a current ratio of 1.31. The stock’s 50 day moving average is C$3.93 and its 200 day moving average is C$3.39.

Ensign Energy Services (TSE:ESI) last announced its quarterly earnings results on Thursday, May 7th. The company reported C($0.06) 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, sell-side analysts anticipate that Ensign Energy Services Inc. will post 0.2901354 EPS for the current fiscal year.

Ensign Energy Services Company Profile

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.