Ensign Energy Services (TSE:ESI) Stock Price Passes Above 200-Day Moving Average – Should You Sell?

Shares of Ensign Energy Services Inc. (TSE:ESI) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$2.67 and traded as high as C$3.37. Ensign Energy Services shares last traded at C$3.34, with a volume of 198,625 shares.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ESI. ATB Capital upped their target price on shares of Ensign Energy Services from C$4.50 to C$5.50 in a report on Tuesday, December 10th. TD Securities dropped their price objective on 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. Finally, BMO Capital Markets boosted their target price on Ensign Energy Services from C$3.25 to C$3.50 in a report on Monday, November 4th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of C$3.71.

Ensign Energy Services Price Performance

The company has a 50-day moving average of C$3.02 and a 200-day moving average of C$2.67. The company has a debt-to-equity ratio of 87.50, a quick ratio of 1.30 and a current ratio of 0.97. The stock has a market cap of C$607.95 million, a price-to-earnings ratio of 27.58, a PEG ratio of 202.94 and a beta of 3.05.

Insider Transactions at Ensign Energy Services

In other news, Senior Officer Brent John Conway sold 35,000 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of C$2.86, for a total value of C$100,100.00. Also, Senior Officer Robert Harold Geddes acquired 50,400 shares of Ensign Energy Services stock in a transaction that occurred on Tuesday, December 10th. The stock was bought at an average price of C$2.90 per share, with a total value of C$146,160.00. Company insiders own 44.90% of the company’s stock.

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.