Ensign Energy Services Inc (TSE:ESI) shares reached a new 52-week low during trading on Tuesday after CIBC lowered their price target on the stock from C$1.50 to C$0.75. The stock traded as low as C$0.22 and last traded at C$0.25, with a volume of 1536640 shares changing hands. The stock had previously closed at C$0.23.

Several other analysts have also recently commented on ESI. Raymond James set a C$0.65 target price on Ensign Energy Services and gave the company a “market perform” rating in a research report on Tuesday. Royal Bank of Canada lowered their target price on Ensign Energy Services from C$1.50 to C$0.60 and set a “sector perform” rating on the stock in a research report on Monday, March 16th. Stifel Firstegy cut Ensign Energy Services from a “hold” rating to a “reduce” rating in a research report on Thursday, March 19th. AltaCorp Capital lowered their target price on Ensign Energy Services from C$1.00 to C$0.60 in a research report on Tuesday. Finally, TD Securities cut Ensign Energy Services from a “buy” rating to a “speculative buy” rating and lowered their target price for the company from C$5.00 to C$0.90 in a research report on Tuesday, March 17th. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. Ensign Energy Services presently has a consensus rating of “Hold” and a consensus target price of C$1.94.

In other news, Director Norman Murray Edwards purchased 2,000,000 shares of the stock in a transaction dated Tuesday, March 17th. The shares were bought at an average cost of C$0.31 per share, for a total transaction of C$620,000.00. Following the transaction, the director now owns 31,582,085 shares in the company, valued at C$9,790,446.35. Also, Senior Officer Robert Harold Geddes purchased 45,300 shares of the stock in a transaction dated Wednesday, February 5th. The shares were purchased at an average price of C$2.41 per share, for a total transaction of C$109,173.00. Following the completion of the transaction, the insider now owns 870,442 shares in the company, valued at approximately C$2,097,765.22. Over the last 90 days, insiders purchased 2,110,831 shares of company stock worth $792,168.

The company has a market capitalization of $43.92 million and a price-to-earnings ratio of -0.43. The firm has a 50-day moving average price of C$1.62 and a 200-day moving average price of C$2.48. The company has a current ratio of 1.53, a quick ratio of 1.25 and a debt-to-equity ratio of 109.05.

Ensign Energy Services (TSE:ESI) last issued its quarterly earnings results on Monday, March 9th. The company reported C($0.45) earnings per share (EPS) for the quarter, missing the consensus estimate of C($0.13) by C($0.32). The firm had revenue of C$375.77 million during the quarter, compared to the consensus estimate of C$380.73 million. Equities research analysts predict that Ensign Energy Services Inc will post -0.56 EPS for the current fiscal year.

About Ensign Energy Services (TSE:ESI)

Ensign Energy Services Inc, together with its subsidiaries, provides oilfield services in Canada, the United States, and internationally. The company offers shallow, intermediate, and deep well drilling, as well as specialized drilling services, including horizontal, underbalanced, horizontal re-entry, and slant drilling for steam assisted gravity drainage applications; and coring and oil sands drilling services to the mining, and oil and natural gas industries.

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