AltaCorp Capital Trims Ensign Energy Services (TSE:ESI) Target Price to C$0.60

Ensign Energy Services (TSE:ESI) had its price target trimmed by AltaCorp Capital from C$1.00 to C$0.60 in a research note issued to investors on Tuesday, BayStreet.CA reports.

Other research analysts have also issued reports about the stock. TD Securities lowered shares of Ensign Energy Services from a buy rating to a speculative buy rating and cut their target price for the stock from C$5.00 to C$0.90 in a research report on Tuesday, March 17th. BMO Capital Markets cut their target price on shares of Ensign Energy Services from C$3.00 to C$1.00 in a research report on Tuesday, March 10th. Royal Bank of Canada cut their target price on shares of Ensign Energy Services from C$1.50 to C$0.60 and set a sector perform rating for the company in a research report on Monday, March 16th. Raymond James cut their target price on shares of Ensign Energy Services from C$4.40 to C$0.65 and set a market perform rating for the company in a research report on Wednesday, March 18th. Finally, Stifel Firstegy lowered shares of Ensign Energy Services from a hold rating to a reduce rating in a research report on Thursday, March 19th. One analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus target price of C$1.94.

Shares of TSE:ESI opened at C$0.59 on Tuesday. Ensign Energy Services has a 52-week low of C$0.22 and a 52-week high of C$6.45. The firm has a fifty day moving average of C$1.62 and a 200 day moving average of C$2.48. The firm has a market capitalization of $43.92 million and a PE ratio of -0.58. The company has a debt-to-equity ratio of 109.05, a quick ratio of 1.25 and a current ratio of 1.53.

Ensign Energy Services (TSE:ESI) last announced its earnings results on Monday, March 9th. The company reported C($0.45) earnings per share (EPS) for the quarter, missing the consensus estimate of C($0.13) by C($0.32). The company had revenue of C$375.77 million for the quarter, compared to the consensus estimate of C$380.73 million. On average, sell-side analysts forecast that Ensign Energy Services will post -0.56 EPS for the current fiscal year.

In other Ensign Energy Services news, Director Norman Murray Edwards purchased 2,000,000 shares of the business’s stock in a transaction on Tuesday, March 17th. The stock was acquired at an average cost of C$0.31 per share, for a total transaction of C$620,000.00. Following the completion of the transaction, the director now directly owns 31,582,085 shares in the company, valued at approximately C$9,790,446.35. Also, Senior Officer Robert Harold Geddes purchased 45,300 shares of the business’s stock in a transaction on Wednesday, February 5th. The shares were acquired at an average price of C$2.41 per share, with a total value of C$109,173.00. Following the completion of the transaction, the insider now owns 870,442 shares of the company’s stock, valued at C$2,097,765.22. Over the last 90 days, insiders have acquired 2,255,831 shares of company stock valued at $850,683.

About Ensign Energy Services

Ensign Energy Services Inc, together with its subsidiaries, provides oilfield services 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 coring and oil sands drilling services to the mining, and oil and natural gas industries.

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Analyst Recommendations for Ensign Energy Services (TSE:ESI)

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