Ensign Energy Services (TSE:ESI) Stock Price Crosses Above 200-Day Moving Average – Time to Sell?

Shares of Ensign Energy Services Inc. (TSE:ESI) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$3.33 and traded as high as C$4.33. Ensign Energy Services shares last traded at C$4.27, with a volume of 260,437 shares traded.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ESI. TD increased their target price on shares of Ensign Energy Services from C$3.50 to C$3.75 and gave the stock a “hold” rating in a research note on Friday, May 8th. Royal Bank Of Canada increased their target price on shares of Ensign Energy Services from C$3.50 to C$4.00 and gave the stock a “sector perform” rating in a research note on Tuesday, April 14th. Finally, ATB Cormark Capital Markets raised shares of Ensign Energy Services from a “sector perform” rating to an “outperform” rating and raised their price target for the company from C$4.00 to C$5.00 in a research note on Tuesday, May 12th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Ensign Energy Services presently has a consensus rating of “Hold” and an average price target of C$3.80.

Ensign Energy Services Trading Down 6.8%

The company has a debt-to-equity ratio of 75.31, a current ratio of 1.31 and a quick ratio of 1.30. The business’s 50 day moving average price is C$3.89 and its 200-day moving average price is C$3.34. The firm has a market capitalization of C$733.72 million, a price-to-earnings ratio of -13.72, a price-to-earnings-growth ratio of 202.94 and a beta of 1.00.

Ensign Energy Services (TSE:ESI) last issued its earnings results on Thursday, May 7th. The company reported C($0.06) earnings per share for the quarter. Ensign Energy Services had a negative return on equity of 4.13% and a negative net margin of 3.31%.The company had revenue of C$418.03 million for the quarter. Equities analysts forecast that Ensign Energy Services Inc. will post 0.2901354 EPS for the current fiscal 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.