Ensign Energy Services (TSE:ESI) Reaches New 12-Month High – Here’s Why

Ensign Energy Services Inc. (TSE:ESI) shares hit a new 52-week high on Thursday . The stock traded as high as C$3.42 and last traded at C$3.42, with a volume of 131810 shares. The stock had previously closed at C$3.33.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on ESI shares. BMO Capital Markets increased their target price on shares of Ensign Energy Services from C$3.25 to C$3.50 in a report on Monday, November 4th. TD Securities reduced their price objective on Ensign Energy Services from C$3.50 to C$3.25 and set a “buy” rating on the stock in a research note on Tuesday, October 8th. Finally, ATB Capital boosted their target price on Ensign Energy Services from C$4.50 to C$5.50 in a research note on Tuesday, December 10th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Ensign Energy Services currently has an average rating of “Moderate Buy” and an average target price of C$3.71.

Ensign Energy Services Price Performance

The firm has a market capitalization of C$629.99 million, a price-to-earnings ratio of 28.58, a price-to-earnings-growth ratio of 202.94 and a beta of 3.05. The stock’s fifty day moving average price is C$2.96 and its two-hundred day moving average price is C$2.63. The company has a current ratio of 0.97, a quick ratio of 1.30 and a debt-to-equity ratio of 87.50.

Insider Buying and Selling at Ensign Energy Services

In other news, Senior Officer Robert Harold Geddes sold 25,000 shares of the company’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of C$3.00, for a total value of C$75,000.00. Also, Senior Officer Brent John Conway sold 35,000 shares of Ensign Energy Services stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of C$2.86, for a total transaction of C$100,100.00. Insiders have acquired a total of 74,593 shares of company stock worth $216,539 over the last ninety days. Corporate insiders own 44.90% of the company’s stock.

Ensign Energy Services Company Profile

Ensign Energy Services Inc, together with its subsidiaries, provides oilfield services to the crude oil and natural gas industries 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 equipment and services.