Ensign Energy Services (TSE:ESI) Share Price Crosses Above 200 Day Moving Average – Here’s What Happened

Shares of Ensign Energy Services Inc. (TSE:ESI) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$2.19 and traded as high as C$2.55. Ensign Energy Services shares last traded at C$2.54, with a volume of 108,174 shares traded.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on ESI shares. Royal Bank Of Canada lowered shares of Ensign Energy Services from a “moderate buy” rating to a “hold” rating and boosted their price target for the company from C$2.50 to C$3.00 in a research report on Thursday, October 9th. CIBC boosted their price target on shares of Ensign Energy Services from C$2.50 to C$2.75 in a research report on Wednesday, October 15th. Three analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of C$3.30.

Ensign Energy Services Stock Up 3.7%

The company has a market cap of C$466.66 million, a PE ratio of -12.70, a PEG ratio of 202.94 and a beta of 2.07. The stock’s 50 day moving average price is C$2.33 and its 200-day moving average price is C$2.19. The company has a debt-to-equity ratio of 84.02, a quick ratio of 1.30 and a current ratio of 0.98.

About Ensign Energy Services

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.