Ensign Energy Services (TSE:ESI) Sets New 12-Month High – What’s Next?

Shares of Ensign Energy Services Inc. (TSE:ESI) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as C$3.87 and last traded at C$3.80, with a volume of 207711 shares traded. The stock had previously closed at C$3.62.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. BMO Capital Markets cut Ensign Energy Services from an “outperform” rating to a “hold” rating and set a C$3.50 price target for the company. in a report on Monday, December 15th. ATB Cormark Capital Markets cut 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 research report on Friday, December 19th. Four equities research analysts have rated the stock with a Hold rating, According to MarketBeat, Ensign Energy Services presently has an average rating of “Hold” and a consensus target price of C$2.90.

Ensign Energy Services Trading Down 6.2%

The company has a fifty day moving average of C$3.11 and a 200-day moving average of C$2.68. The company has a current ratio of 1.12, a quick ratio of 1.30 and a debt-to-equity ratio of 74.55. The company has a market capitalization of C$659.76 million, a price-to-earnings ratio of -14.40, a PEG ratio of 202.94 and a beta of 1.60.

Ensign Energy Services Company Profile

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.