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

Ensign Energy Services Inc. (TSE:ESI)’s stock price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$2.48 and traded as high as C$3.08. Ensign Energy Services shares last traded at C$3.00, with a volume of 179,957 shares traded.

Wall Street Analysts Forecast Growth

ESI has been the topic of a number of recent research reports. BMO Capital Markets upped their target price on Ensign Energy Services from C$3.25 to C$3.50 in a research note on Monday, November 4th. TD Securities reduced their target price on Ensign Energy Services from C$3.50 to C$3.25 and set a “buy” rating on the stock in a research note on Tuesday, October 8th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Ensign Energy Services has an average rating of “Moderate Buy” and an average target price of C$3.63.

Ensign Energy Services Price Performance

The company has a fifty day simple moving average of C$2.73 and a two-hundred day simple moving average of C$2.48. 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 company has a market capitalization of C$551.01 million, a price-to-earnings ratio of 25.00, a P/E/G ratio of 202.94 and a beta of 3.05.

Insider Transactions at Ensign Energy Services

In other news, Director Donna Jeanne Carson acquired 17,443 shares of the company’s stock in a transaction dated Wednesday, October 16th. The stock was acquired at an average cost of C$2.87 per share, for a total transaction of C$50,061.41. Also, Senior Officer Robert Harold Geddes sold 25,000 shares of the company’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of C$3.00, for a total value of C$75,000.00. Insiders own 44.90% of the company’s stock.

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.