Ensign Energy Services (TSE:ESI) Price Target Lowered to C$3.25 at TD Securities

Ensign Energy Services (TSE:ESI) had its price target decreased by investment analysts at TD Securities from C$3.50 to C$3.25 in a report released on Tuesday, BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. TD Securities’ price target would suggest a potential upside of 27.45% from the stock’s current price.

Separately, BMO Capital Markets cut their target price on Ensign Energy Services from C$3.50 to C$3.25 in a research note on Friday. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$3.58.

Ensign Energy Services Price Performance

ESI stock traded down C$0.06 during midday trading on Tuesday, reaching C$2.55. The company had a trading volume of 144,258 shares, compared to its average volume of 227,686. The company has a debt-to-equity ratio of 87.50, a current ratio of 0.97 and a quick ratio of 1.30. The company has a market capitalization of C$468.36 million, a price-to-earnings ratio of 23.18, a price-to-earnings-growth ratio of 202.94 and a beta of 3.05. Ensign Energy Services has a 1-year low of C$1.94 and a 1-year high of C$3.16. The stock has a 50 day moving average price of C$2.49 and a 200-day moving average price of C$2.43.

Ensign Energy Services (TSE:ESI) last posted its quarterly earnings results on Friday, August 2nd. The company reported C($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C($0.04) by C$0.02. Ensign Energy Services had a return on equity of 1.63% and a net margin of 1.23%. The firm had revenue of C$391.79 million for the quarter, compared to analysts’ expectations of C$387.80 million.

Insider Buying and Selling

In other Ensign Energy Services news, Senior Officer Michael Gray purchased 15,000 shares of Ensign Energy Services stock in a transaction that occurred on Wednesday, August 7th. The stock was bought at an average price of C$2.24 per share, with a total value of C$33,630.00. 44.90% of the stock is owned by company insiders.

About Ensign Energy Services

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.