Ensign Energy Services (TSE:ESI) Trading Up 7.8% – Time to Buy?

Ensign Energy Services Inc. (TSE:ESI) was up 7.8% during trading on Friday . The company traded as high as C$3.58 and last traded at C$3.58. Approximately 94,865 shares traded hands during trading, a decline of 56% from the average daily volume of 216,887 shares. The stock had previously closed at C$3.32.

Analyst Ratings Changes

Several research firms recently weighed in on ESI. BMO Capital Markets lowered shares of Ensign Energy Services from an “outperform” rating to a “hold” rating and set a C$3.50 price target for the company. in a research report on Monday, December 15th. ATB Cormark Capital Markets reduced their target price on shares of Ensign Energy Services from C$3.25 to C$3.00 and set a “sector perform” rating for the company in a research report on Friday, December 19th. Four investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of C$2.90.

Ensign Energy Services Stock Up 12.3%

The firm has a market capitalization of C$683.58 million, a P/E ratio of -14.92, a PEG ratio of 202.94 and a beta of 1.60. The company has a debt-to-equity ratio of 84.02, a quick ratio of 1.30 and a current ratio of 0.98. The stock has a 50 day moving average of C$2.86 and a 200-day moving average of C$2.56.

Ensign Energy Services (TSE:ESI) last posted its earnings results on Friday, November 7th. The company reported C($0.02) earnings per share for the quarter. The business had revenue of C$411.16 million during the quarter. Ensign Energy Services had a return on equity of 2.37% and a net margin of 1.86%. Research analysts predict that Ensign Energy Services Inc. will post 0.2901354 earnings per share for the current fiscal year.

About Ensign Energy Services

Ensign Energy Services Inc offers services in drilling and well servicing, oil sands coring, directional drilling, underbalanced and managed pressure drilling, equipment rentals, transportation, wireline services, and production testing services. Ensign produces enhanced drilling with the help of its proprietary automated drilling rigs. The automated drilling rigs are built for improved safety and a reduced environmental footprint. Most of the company’s revenue is derived from the United States and Canada.