Ensign Energy Services (TSE:ESI) Share Price Passes Above Two Hundred Day Moving Average - Here's What Happened

Ensign Energy Services Inc. (TSE:ESI - Get Free Report)'s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$2.80 and traded as high as C$3.16. Ensign Energy Services shares last traded at C$3.16, with a volume of 284,214 shares changing hands.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on ESI shares. BMO Capital Markets lifted their price target on Ensign Energy Services from C$3.25 to C$3.50 in a report on Monday, November 4th. ATB Capital lifted their target price on Ensign Energy Services from C$4.50 to C$5.50 in a research note on Tuesday, December 10th. Finally, TD Securities downgraded shares of Ensign Energy Services from a "buy" rating to a "hold" rating and cut their price objective for the stock from C$3.25 to C$3.00 in a research report on Monday, February 3rd. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of C$3.67.

Ensign Energy Services Trading Down 3.5 %

The stock has a market capitalization of C$559.63 million, a PE ratio of 17.71, a P/E/G ratio of 202.94 and a beta of 3.05. The company has a debt-to-equity ratio of 84.02, a quick ratio of 1.30 and a current ratio of 0.98. The company has a 50 day moving average of C$3.09 and a two-hundred day moving average of C$2.82.

Insider Activity

In other Ensign Energy Services news, Director Cary A. Moomjian Jr. purchased 10,000 shares of the business's stock in a transaction that occurred on Monday, February 3rd. The shares were bought at an average price of C$2.97 per share, for a total transaction of C$29,694.00. Also, Senior Officer Robert Harold Geddes purchased 50,400 shares of Ensign Energy Services stock in a transaction on Tuesday, December 10th. The shares were acquired at an average cost of C$2.90 per share, with a total value of C$146,160.00. Corporate 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.