Ensign Energy Services (TSE:ESI) Reaches New 1-Year High – Here’s Why

Ensign Energy Services Inc. (TSE:ESI)’s share price reached a new 52-week high on Friday . The company traded as high as C$3.22 and last traded at C$3.20, with a volume of 43591 shares traded. The stock had previously closed at C$3.15.

Wall Street Analyst Weigh In

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

Ensign Energy Services Trading Up 1.3 %

The business has a 50 day moving average of C$2.92 and a 200 day moving average of C$2.60. The firm has a market cap of C$585.91 million, a price-to-earnings ratio of 26.58, a price-to-earnings-growth ratio of 202.94 and a beta of 3.05. The company has a quick ratio of 1.30, a current ratio of 0.97 and a debt-to-equity ratio of 87.50.

Insider Buying and Selling

In other Ensign Energy Services news, Director Donna Jeanne Carson bought 17,443 shares of Ensign Energy Services stock in a transaction that occurred on Wednesday, October 16th. The shares were purchased at an average cost of C$2.87 per share, for a total transaction of C$50,061.41. Also, Senior Officer Robert Harold Geddes purchased 50,400 shares of the stock in a transaction on Tuesday, December 10th. The stock was acquired at an average price of C$2.90 per share, with a total value of C$146,160.00. Over the last 90 days, insiders have bought 74,593 shares of company stock worth $216,539. 44.90% of the stock is owned by 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.