Ensign Energy Services (TSE:ESI) Reaches New 52-Week High – Here’s What Happened

Ensign Energy Services Inc. (TSE:ESI)’s share price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as C$3.81 and last traded at C$3.77, with a volume of 77083 shares changing hands. The stock had previously closed at C$3.73.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ESI. ATB Cormark Capital Markets dropped their price objective on Ensign Energy Services from C$3.25 to C$3.00 and set a “sector perform” rating for the company in a report on Friday, December 19th. BMO Capital Markets cut 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. Four equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of C$2.90.

Ensign Energy Services Price Performance

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 company has a market capitalization of C$681.75 million, a price-to-earnings ratio of -14.88, a price-to-earnings-growth ratio of 202.94 and a beta of 1.60. The company has a 50-day moving average price of C$2.91 and a 200-day moving average price of C$2.59.

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.