Ensign Energy Services (TSE:ESI) Share Price Passes Above 200-Day Moving Average of $3.39

Ensign Energy Services Inc. (TSE:ESI – Get Rating) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$3.39 and traded as high as C$3.49. Ensign Energy Services shares last traded at C$3.32, with a volume of 311,037 shares.

Analysts Set New Price Targets

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

Ensign Energy Services Stock Performance

The business has a fifty day simple moving average of C$3.63 and a two-hundred day simple moving average of C$3.39. 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 company has a market cap of C$610.06 million and a P/E ratio of -4.94.

Ensign Energy Services (TSE:ESI – Get Rating) last posted its earnings results on Monday, May 9th. The company reported C($0.12) earnings per share 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. On average, sell-side analysts anticipate that Ensign Energy Services Inc. will post 0.22 EPS for the current year.

About Ensign Energy Services

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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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