Ensign Energy Services (TSE:ESI) Reaches New 52-Week High – Should You Buy?

Shares of Ensign Energy Services Inc. (TSE:ESI) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as C$3.87 and last traded at C$3.80, with a volume of 207711 shares trading hands. The stock had previously closed at C$3.62.

Analysts Set New Price Targets

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

Ensign Energy Services Trading Up 6.1%

The company has a debt-to-equity ratio of 84.02, a quick ratio of 1.30 and a current ratio of 0.98. The business has a fifty day simple moving average of C$3.06 and a 200 day simple moving average of C$2.66. The stock has a market capitalization of C$703.74 million, a price-to-earnings ratio of -15.36, a price-to-earnings-growth ratio of 202.94 and a beta of 1.60.

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.