Ensign Energy Services (TSE:ESI) Shares Down 11.1%

Ensign Energy Services Inc. (TSE:ESI – Get Rating)’s share price dropped 11.1% on Friday . The company traded as low as C$3.28 and last traded at C$3.28. Approximately 340,163 shares traded hands during mid-day trading, a decline of 51% from the average daily volume of 689,285 shares. The stock had previously closed at C$3.69.

ESI has been the topic of a number of recent research reports. Raymond James raised their price objective on shares of Ensign Energy Services from C$5.25 to C$6.00 and gave the company an “outperform” rating in a research note on Tuesday, May 17th. TD Securities raised their price objective on shares of Ensign Energy Services from C$6.00 to C$6.50 and gave the company a “speculative buy” rating in a research note on Tuesday, May 10th. CIBC raised their price objective on shares of Ensign Energy Services from C$3.25 to C$4.50 and gave the company a “neutral” rating in a research note on Thursday, April 14th. Royal Bank of Canada raised their price objective on shares of Ensign Energy Services from C$6.00 to C$6.50 and gave the company an “outperform” rating in a research note on Tuesday, May 10th. Finally, Stifel Nicolaus increased their target price on shares of Ensign Energy Services from C$5.50 to C$5.75 in a report on Tuesday, May 10th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of C$5.31.

The business’s 50-day simple moving average is C$4.30 and its two-hundred day simple moving average is C$3.04. The company has a quick ratio of 1.30, a current ratio of 1.52 and a debt-to-equity ratio of 118.68. The stock has a market cap of C$633.94 million and a P/E ratio of -4.91.

Ensign Energy Services (TSE:ESI – Get Rating) last released its quarterly earnings data on Monday, May 9th. The company reported C($0.12) EPS for the quarter, beating analysts’ consensus estimates of C($0.14) by C$0.02. The firm had revenue of C$332.68 million during the quarter, compared to the consensus estimate of C$328.20 million. Analysts anticipate that Ensign Energy Services Inc. will post 0.08 earnings per share for the current fiscal year.

In other news, Director Cary A. Moomjian Jr. sold 142,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 13th. The shares were sold at an average price of C$4.44, for a total value of C$629,923.64. Following the completion of the transaction, the director now directly owns 348,762 shares in the company, valued at C$1,547,136.83.

Ensign Energy Services Company Profile (TSE:ESI)

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.

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