Ensign Energy Services (TSE:ESI) Stock Price Passes Above 200-Day Moving Average – Here’s Why

Ensign Energy Services Inc. (TSE:ESI)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$2.78 and traded as high as C$3.07. Ensign Energy Services shares last traded at C$3.06, with a volume of 310,343 shares.

Analyst Ratings Changes

Several equities research analysts recently issued reports on ESI shares. ATB Capital increased their price objective on Ensign Energy Services from C$4.50 to C$5.50 in a research note on Tuesday, December 10th. BMO Capital Markets increased their price objective on Ensign Energy Services from C$3.25 to C$3.50 in a research note on Monday, November 4th. Finally, TD Securities downgraded Ensign Energy Services from a “buy” rating to a “hold” rating and reduced their price objective for the stock from C$3.25 to C$3.00 in a research note on Monday, February 3rd. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of C$3.67.

Ensign Energy Services Price Performance

The stock has a 50 day moving average price of C$3.05 and a two-hundred day moving average price of C$2.78. 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 company has a market capitalization of C$562.03 million, a PE ratio of 25.50, a P/E/G 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 stock was sold at an average price of C$2.86, for a total transaction of C$100,100.00. Also, Senior Officer Robert Harold Geddes acquired 50,400 shares of the stock in a transaction dated Tuesday, December 10th. The shares were bought at an average cost of C$2.90 per share, for a total transaction 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.