Ensign Energy Services (TSE:ESI) Reaches New 12-Month High Following Analyst Upgrade

Ensign Energy Services Inc. (TSE:ESI) shares reached a new 52-week high during mid-day trading on Monday after BMO Capital Markets raised their price target on the stock from C$3.25 to C$3.50. The stock traded as high as C$3.04 and last traded at C$3.02, with a volume of 116194 shares changing hands. The stock had previously closed at C$2.91.

Separately, TD Securities reduced their target price on shares of Ensign Energy Services from C$3.50 to C$3.25 and set a “buy” rating on the stock in a report on Tuesday, October 8th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$3.63.

Insiders Place Their Bets

In related news, Senior Officer Robert Harold Geddes sold 25,000 shares of the business’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of C$3.00, for a total value of C$75,000.00. In related news, Senior Officer Robert Harold Geddes sold 25,000 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of C$3.00, for a total transaction of C$75,000.00. Also, Senior Officer Michael Gray purchased 11,000 shares of Ensign Energy Services stock in a transaction dated Friday, August 9th. The shares were purchased at an average cost of C$2.29 per share, with a total value of C$25,173.50. 44.90% of the stock is owned by insiders.

Ensign Energy Services Price Performance

The company has a debt-to-equity ratio of 87.50, a current ratio of 0.97 and a quick ratio of 1.30. The firm has a market cap of C$551.01 million, a price-to-earnings ratio of 25.00, a price-to-earnings-growth ratio of 202.94 and a beta of 3.05. The stock’s fifty day moving average price is C$2.65 and its 200-day moving average price is C$2.47.

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.