Ensign Energy Services (TSE:ESI) Reaches New 1-Year High – What’s Next?

Ensign Energy Services Inc. (TSE:ESI)’s share price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as C$3.42 and last traded at C$3.42, with a volume of 131810 shares traded. The stock had previously closed at C$3.33.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on ESI shares. TD Securities lowered their target price on shares of Ensign Energy Services from C$3.50 to C$3.25 and set a “buy” rating for the company in a research note on Tuesday, October 8th. BMO Capital Markets increased their price objective on Ensign Energy Services from C$3.25 to C$3.50 in a report on Monday, November 4th. Finally, ATB Capital boosted their target price on Ensign Energy Services from C$4.50 to C$5.50 in a research note on Tuesday, December 10th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Ensign Energy Services currently has an average rating of “Moderate Buy” and an average price target of C$3.71.

Ensign Energy Services Price Performance

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 firm has a market cap of C$624.48 million, a price-to-earnings ratio of 28.33, a PEG ratio of 202.94 and a beta of 3.05. The stock has a 50-day moving average price of C$2.94 and a 200 day moving average price of C$2.61.

Insider Buying and Selling

In other Ensign Energy Services news, Senior Officer Brent John Conway sold 35,000 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of C$2.86, for a total transaction of C$100,100.00. Also, Senior Officer Robert Harold Geddes sold 25,000 shares of Ensign Energy Services stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of C$3.00, for a total transaction of C$75,000.00. Insiders acquired a total of 74,593 shares of company stock worth $216,539 in the last 90 days. 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.