Ensign Energy Services (TSE:ESI) Share Price Breaks Below 200 Day Moving Average – Time to Sell?

Ensign Energy Services Inc. (TSE:ESI)’s share price passed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of C$3.68 and traded as low as C$3.65. Ensign Energy Services shares last traded at C$3.67, with a volume of 483,760 shares trading hands.

Wall Street Analyst Weigh In

ESI has been the topic of a number of research reports. TD raised shares of Ensign Energy Services from a “hold” rating to a “buy” rating and boosted their target price for the stock from C$3.50 to C$4.75 in a research note on Tuesday, October 20th. TD Securities upgraded shares of Ensign Energy Services from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 20th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of C$4.31.

Ensign Energy Services Stock Down 3.9%

The firm has a 50-day simple moving average of C$3.84 and a 200 day simple moving average of C$3.68. The stock has a market capitalization of C$676.48 million, a P/E ratio of -16.68, a P/E/G ratio of 202.94 and a beta of 1.41. The company has a debt-to-equity ratio of 73.88, a current ratio of 1.24 and a quick ratio of 1.30.

Ensign Energy Services (TSE:ESI) last released its quarterly earnings results on Friday, November 6th. The company reported C$0.06 earnings per share for the quarter. The company had revenue of C$481.71 million for the quarter. Ensign Energy Services had a negative return on equity of 3.11% and a negative net margin of 2.45%. On average, equities research analysts forecast that Ensign Energy Services Inc. will post 0.29 EPS 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.