Ensign Energy Services (TSE:ESI) Shares Pass Above Two Hundred Day Moving Average – Time to Sell?

Ensign Energy Services Inc. (TSE:ESI) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$2.88 and traded as high as C$3.76. Ensign Energy Services shares last traded at C$3.63, with a volume of 434,378 shares.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. ATB Cormark Capital Markets dropped their price target on Ensign Energy Services from C$3.25 to C$3.00 and set a “sector perform” rating on the stock in a research note on Friday, December 19th. BMO Capital Markets downgraded shares of Ensign Energy Services from an “outperform” rating to a “hold” rating and set a C$3.50 price objective on the stock. in a report on Monday, December 15th. Four equities research analysts have rated the stock with a Hold rating, According to MarketBeat, Ensign Energy Services has a consensus rating of “Hold” and a consensus target price of C$2.90.

Ensign Energy Services Price Performance

The stock has a market capitalization of C$648.54 million, a price-to-earnings ratio of -16.76, a P/E/G ratio of 202.94 and a beta of 1.37. The company’s 50-day simple moving average is C$3.50 and its 200-day simple moving average is C$2.89. The company has a debt-to-equity ratio of 75.33, a current ratio of 1.34 and a quick ratio of 1.30.

Ensign Energy Services (TSE:ESI) last posted its earnings results on Friday, March 6th. The company reported C($0.07) EPS for the quarter. The firm had revenue of C$418.81 million during the quarter. Ensign Energy Services had a negative net margin of 2.37% and a negative return on equity of 2.94%. Research analysts forecast that Ensign Energy Services Inc. will post 0.2901354 earnings per share for the current fiscal year.

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.