Ensign Energy Services (TSE:ESI) Trading Up 6.1% – Here’s Why

Shares of Ensign Energy Services Inc. (TSE:ESI) were up 6.1% during mid-day trading on Tuesday . The company traded as high as C$4.97 and last traded at C$4.72. Approximately 156,395 shares changed hands during trading, a decline of 51% from the average daily volume of 320,025 shares. The stock had previously closed at C$4.45.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on ESI shares. ATB Cormark Capital Markets raised Ensign Energy Services from a “sector perform” rating to an “outperform” rating and raised their price target for the stock from C$4.00 to C$5.00 in a research note on Tuesday, May 12th. Royal Bank Of Canada raised their price target on Ensign Energy Services from C$3.50 to C$4.00 and gave the stock a “sector perform” rating in a research note on Tuesday, April 14th. Finally, TD raised their price target on Ensign Energy Services from C$3.50 to C$3.75 and gave the stock a “hold” rating in a research note on Friday, May 8th. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of C$3.80.

Ensign Energy Services Price Performance

The company has a current ratio of 1.31, a quick ratio of 1.30 and a debt-to-equity ratio of 75.31. The stock has a market capitalization of C$842.48 million, a P/E ratio of -15.76, a price-to-earnings-growth ratio of 202.94 and a beta of 1.28. The stock has a 50 day moving average of C$3.74 and a 200-day moving average of C$3.20.

Ensign Energy Services (TSE:ESI) last issued its quarterly earnings results on Thursday, May 7th. The company reported C($0.06) earnings per share (EPS) for the quarter. The business had revenue of C$418.03 million for the quarter. Ensign Energy Services had a negative return on equity of 4.13% and a negative net margin of 3.31%. On average, equities research analysts anticipate that Ensign Energy Services Inc. will post 0.2901354 earnings per share for the current fiscal year.

About Ensign Energy Services

Ensign is a global leader in oilfield services, headquartered out of Calgary, Alberta, operating in Canada, the United States and internationally. We are one of the world’s top land-based drilling and well servicing contractors serving crude oil, natural gas, and geothermal operators. Our premium services include contract drilling, directional drilling, underbalanced and managed pressure drilling, rental equipment and well servicing. Please visit our website at www.ensignenergy.com.