Ensign Energy Services (TSE:ESI) Stock Crosses Above 200 Day Moving Average - Time to Sell?

Shares of Ensign Energy Services Inc. (TSE:ESI - Get Free Report) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$2.83 and traded as high as C$2.88. Ensign Energy Services shares last traded at C$2.76, with a volume of 314,129 shares.

Wall Street Analysts Forecast Growth

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

Ensign Energy Services Stock Performance

The stock has a market capitalization of C$509.76 million, a P/E ratio of 16.14, a price-to-earnings-growth ratio of 202.94 and a beta of 3.05. The company has a current ratio of 0.98, a quick ratio of 1.30 and a debt-to-equity ratio of 84.02. The stock's fifty day moving average price is C$3.09 and its two-hundred day moving average price is C$2.83.

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Insider Transactions at Ensign Energy Services

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