Ensign Energy Services (TSE:ESI) Reaches New 1-Year High – Still a Buy?

Ensign Energy Services Inc. (TSE:ESI) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as C$3.42 and last traded at C$3.42, with a volume of 131810 shares trading hands. The stock had previously closed at C$3.33.

Wall Street Analyst Weigh In

ESI has been the topic of several recent analyst reports. TD Securities cut their price objective on shares of Ensign Energy Services from C$3.50 to C$3.25 and set a “buy” rating on the stock in a research report on Tuesday, October 8th. BMO Capital Markets raised their price target 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 increased their price objective on Ensign Energy Services from C$4.50 to C$5.50 in a research report on Tuesday, December 10th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Ensign Energy Services currently has a consensus rating of “Moderate Buy” and an average target price of C$3.71.

Ensign Energy Services Stock Up 2.1 %

The stock has a market cap of C$624.48 million, a P/E ratio of 28.33, a P/E/G ratio of 202.94 and a beta of 3.05. The company’s 50 day moving average price is C$2.94 and its two-hundred day moving average price is C$2.61. The company has a quick ratio of 1.30, a current ratio of 0.97 and a debt-to-equity ratio of 87.50.

Insider Buying and Selling

In other news, Senior Officer Brent John Conway sold 35,000 shares of the firm’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. Also, Director Donna Jeanne Carson acquired 17,443 shares of the business’s stock in a transaction dated Wednesday, October 16th. The stock was acquired at an average price of C$2.87 per share, with a total value of C$50,061.41. In the last quarter, insiders have acquired 74,593 shares of company stock worth $216,539. 44.90% of the stock is owned by company insiders.

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.