Ensign Energy Services (TSE:ESI) Stock Price Up 6.1% – Here’s Why

Ensign Energy Services Inc. (TSE:ESI)’s share price was up 6.1% during mid-day trading on Tuesday . The stock traded as high as C$4.97 and last traded at C$4.72. Approximately 156,395 shares traded hands during mid-day trading, a decline of 51% from the average daily volume of 320,025 shares. The stock had previously closed at C$4.45.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Royal Bank Of Canada upped their target price on Ensign Energy Services from C$3.50 to C$4.00 and gave the stock a “sector perform” rating in a report on Tuesday, April 14th. TD upped their price objective on shares of Ensign Energy Services from C$3.50 to C$3.75 and gave the stock a “hold” rating in a research note on Friday, May 8th. Finally, ATB Cormark Capital Markets upgraded shares of Ensign Energy Services from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from C$4.00 to C$5.00 in a report on Tuesday, May 12th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of C$3.80.

Ensign Energy Services Stock Performance

The business has a 50-day moving average price of C$3.69 and a 200-day moving average price of C$3.17. The company has a quick ratio of 1.30, a current ratio of 1.31 and a debt-to-equity ratio of 75.31. The firm has a market capitalization of C$870.14 million, a price-to-earnings ratio of -16.28, a P/E/G ratio of 202.94 and a beta of 1.28.

Ensign Energy Services (TSE:ESI) last issued its quarterly earnings results on Thursday, May 7th. The company reported C($0.06) earnings per share for the quarter. The business had revenue of C$418.03 million for the quarter. Ensign Energy Services had a negative return on equity of 4.13% and a negative net margin of 3.31%. As a group, sell-side analysts forecast that Ensign Energy Services Inc. will post 0.2901354 earnings per share for the current year.

About Ensign Energy Services

Ensign is a global leader in oilfield services, headquartered out of Calgary, Alberta, operating in Canada, the United States and internationally. We are one of the world’s top land-based drilling and well servicing contractors serving crude oil, natural gas, and geothermal operators. Our premium services include contract drilling, directional drilling, underbalanced and managed pressure drilling, rental equipment and well servicing. Please visit our website at www.ensignenergy.com.