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

Ensign Energy Services Inc. (TSE:ESI) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$2.25 and traded as high as C$2.45. Ensign Energy Services shares last traded at C$2.42, with a volume of 124,418 shares.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ESI. Atb Cap Markets upgraded Ensign Energy Services to a “hold” rating in a report on Thursday, October 30th. CIBC boosted their target price on Ensign Energy Services from C$2.50 to C$2.75 in a research note on Wednesday, October 15th. Finally, Royal Bank Of Canada downgraded Ensign Energy Services from a “moderate buy” rating to a “hold” rating and upped their target price for the company from C$2.50 to C$3.00 in a report on Thursday, October 9th. Three analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of C$3.30.

Ensign Energy Services Price Performance

The stock has a market cap of C$444.61 million, a PE ratio of -12.10, a P/E/G ratio of 202.94 and a beta of 1.63. The business has a fifty day simple moving average of C$2.43 and a two-hundred day simple moving average of C$2.25. The company has a current ratio of 0.98, a quick ratio of 1.30 and a debt-to-equity ratio of 84.02.

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.