Ensign Energy Services (TSE:ESI) Hits New 52-Week Low Following Analyst Downgrade

Shares of Ensign Energy Services Inc. (TSE:ESI) reached a new 52-week low on Monday after TD Securities lowered their price target on the stock from C$3.00 to C$2.75. TD Securities currently has a hold rating on the stock. Ensign Energy Services traded as low as C$2.06 and last traded at C$2.08, with a volume of 838740 shares. The stock had previously closed at C$2.25.

Several other equities analysts have also recently weighed in on the company. BMO Capital Markets lowered their price target on Ensign Energy Services from C$4.25 to C$3.50 in a report on Monday. ATB Capital increased their target price on Ensign Energy Services from C$4.50 to C$5.50 in a report on Tuesday, December 10th.

Insider Activity

In other news, Senior Officer Robert Harold Geddes purchased 50,400 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The stock was purchased at an average cost of C$2.90 per share, with a total value of C$146,160.00. Also, Director Cary A. Moomjian Jr. bought 10,000 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were acquired at an average price of C$2.97 per share, with a total value of C$29,694.00. Corporate insiders own 44.90% of the company’s stock.

Ensign Energy Services Stock Down 6.7 %

The stock has a market cap of C$387.86 million, a PE ratio of 12.28, a price-to-earnings-growth ratio of 202.94 and a beta of 3.05. The business has a fifty day moving average of C$3.05 and a 200-day moving average of C$2.83. The company has a debt-to-equity ratio of 84.02, a current ratio of 0.98 and a quick ratio of 1.30.

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.