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

Ensign Energy Services Inc. (TSE:ESI) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$3.55 and traded as high as C$3.58. Ensign Energy Services shares last traded at C$3.52, with a volume of 234,335 shares trading hands.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ESI. TD lowered their price objective on Ensign Energy Services from C$3.75 to C$3.50 and set a “hold” rating on the stock in a research note on Monday, July 13th. ATB Cormark Capital Markets raised shares of Ensign Energy Services from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from C$4.00 to C$5.00 in a report on Tuesday, May 12th. Finally, Royal Bank Of Canada raised their price target 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. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, Ensign Energy Services currently has a consensus rating of “Hold” and a consensus target price of C$3.75.

Ensign Energy Services Price Performance

The business’s 50-day moving average price is C$3.80 and its 200 day moving average price is C$3.56. The company has a market capitalization of C$683.94 million, a P/E ratio of -12.79, a price-to-earnings-growth ratio of 202.94 and a beta of 1.15. The company has a quick ratio of 1.30, a current ratio of 1.31 and a debt-to-equity ratio of 75.31.

Ensign Energy Services (TSE:ESI) last posted its earnings results on Thursday, May 7th. The company reported C($0.06) earnings per share for the quarter. Ensign Energy Services had a negative return on equity of 4.13% and a negative net margin of 3.31%.The firm had revenue of C$418.03 million for the quarter. Analysts anticipate that Ensign Energy Services Inc. will post 0.2901354 EPS for the current fiscal year.

Ensign Energy Services Company Profile

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.