Ensign Energy Services (TSE:ESI) Shares Cross Above 200-Day Moving Average – Here’s Why

Ensign Energy Services Inc. (TSE:ESI)’s share price passed above its two hundred day moving average during trading on Tuesday. The stock has a two hundred day moving average of C$3.70 and traded as high as C$3.73. Ensign Energy Services shares last traded at C$3.62, with a volume of 213,823 shares traded.

Analyst Ratings Changes

Separately, TD dropped their price objective on shares of Ensign Energy Services from C$3.75 to C$3.50 and set a “hold” rating on the stock in a research note on Monday, July 13th. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of C$3.75.

Ensign Energy Services Stock Performance

The company has a market capitalization of C$669.11 million, a PE ratio of -16.50, a price-to-earnings-growth ratio of 202.94 and a beta of 1.58. The business’s fifty day moving average is C$3.62 and its two-hundred day moving average is C$3.70. The company has a current ratio of 1.24, a quick ratio of 1.30 and a debt-to-equity ratio of 73.88.

Ensign Energy Services (TSE:ESI) last posted its earnings results on Friday, August 7th. The company reported C($0.07) EPS for the quarter. The business had revenue of C$397.33 million during the quarter. Ensign Energy Services had a negative return on equity of 3.11% and a negative net margin of 2.45%. Equities research analysts predict that Ensign Energy Services Inc. will post 0.2901354 earnings per share for the current year.

Ensign Energy Services Company Profile

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.