Ensign Energy Services (TSE:ESI) Shares Cross Above 200-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$2.58 and traded as high as C$2.98. Ensign Energy Services shares last traded at C$2.98, with a volume of 210,657 shares traded.

Analyst Ratings Changes

Several brokerages recently issued reports on ESI. ATB Capital upped their price objective on shares of Ensign Energy Services from C$4.50 to C$5.50 in a research note on Tuesday, December 10th. 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. Finally, TD Securities cut their price target on Ensign Energy Services from C$3.50 to C$3.25 and set a "buy" rating for the company in a report on Tuesday, October 8th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of C$3.71.

Ensign Energy Services Stock Up 4.9 %

The company has a debt-to-equity ratio of 87.50, a current ratio of 0.97 and a quick ratio of 1.30. The company has a market capitalization of C$547.34 million, a PE ratio of 24.83, a P/E/G ratio of 202.94 and a beta of 3.05. The business's 50 day simple moving average is C$2.91 and its 200 day simple moving average is C$2.59.

Insider Activity

In related news, Senior Officer Robert Harold Geddes sold 25,000 shares of the firm's stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of C$3.00, for a total transaction of C$75,000.00. Also, Director Donna Jeanne Carson acquired 17,443 shares of Ensign Energy Services stock in a transaction that occurred on Wednesday, October 16th. The stock was bought at an average price of C$2.87 per share, for a total transaction of C$50,061.41. In the last 90 days, insiders have bought 74,593 shares of company stock valued at $216,539. 44.90% of the stock is currently owned by company insiders.

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.