Ensign Energy Services (TSE:ESI) Shares Pass Above Two Hundred Day Moving Average – What’s Next?

Ensign Energy Services Inc. (TSE:ESI)’s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$2.58 and traded as high as C$2.98. Ensign Energy Services shares last traded at C$2.98, with a volume of 210,657 shares trading hands.

Wall Street Analyst Weigh In

ESI has been the subject of several research reports. TD Securities reduced their price target on shares of Ensign Energy Services from C$3.50 to C$3.25 and set a “buy” rating for the company in a research report on Tuesday, October 8th. BMO Capital Markets increased 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 lifted their price target on shares of Ensign Energy Services from C$4.50 to C$5.50 in a 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. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$3.71.

Ensign Energy Services Stock Up 5.7 %

The company has a fifty day moving average price of C$2.91 and a 200 day moving average price of C$2.59. The company has a market cap of C$578.56 million, a PE ratio of 26.25, a price-to-earnings-growth ratio of 202.94 and a beta of 3.05. The company has a debt-to-equity ratio of 87.50, a current ratio of 0.97 and a quick ratio of 1.30.

Insider Transactions at Ensign Energy Services

In other Ensign Energy Services news, Director Donna Jeanne Carson bought 17,443 shares of Ensign Energy Services stock in a transaction that occurred on Wednesday, October 16th. The shares were bought at an average price of C$2.87 per share, with a total value of C$50,061.41. Also, Senior Officer Robert Harold Geddes purchased 50,400 shares of the stock in a transaction on Tuesday, December 10th. The stock was acquired at an average cost of C$2.90 per share, with a total value of C$146,160.00. In the last ninety days, insiders purchased 74,593 shares of company stock valued at $216,539. 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.