Ensign Energy Services (TSE:ESI) Stock Price Up 7.8% – Here’s What Happened

Ensign Energy Services Inc. (TSE:ESI)’s stock price rose 7.8% during trading on Friday . The company traded as high as C$3.58 and last traded at C$3.58. Approximately 94,865 shares changed hands during trading, a decline of 56% from the average daily volume of 216,887 shares. The stock had previously closed at C$3.32.

Analyst Ratings Changes

A number of analysts recently commented on the stock. ATB Capital lowered their price objective on shares of Ensign Energy Services from C$3.25 to C$3.00 and set a “sector perform” rating for the company in a research report on Friday, December 19th. BMO Capital Markets cut shares of Ensign Energy Services from an “outperform” rating to a “hold” rating and set a C$3.50 price target for the company. in a report on Monday, December 15th. Four analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of C$2.90.

Ensign Energy Services Stock Performance

The company has a market capitalization of C$690.91 million, a P/E ratio of -15.08, a PEG ratio of 202.94 and a beta of 1.60. The company has a debt-to-equity ratio of 84.02, a quick ratio of 1.30 and a current ratio of 0.98. The stock’s fifty day moving average price is C$2.84 and its 200-day moving average price is C$2.54.

Ensign Energy Services (TSE:ESI) last released its quarterly earnings results on Friday, November 7th. The company reported C($0.02) EPS for the quarter. The business had revenue of C$411.16 million for the quarter. Ensign Energy Services had a return on equity of 2.37% and a net margin of 1.86%. As a group, research analysts anticipate that Ensign Energy Services Inc. will post 0.2901354 EPS for the current fiscal year.

About Ensign Energy Services

Ensign Energy Services Inc offers services in drilling and well servicing, oil sands coring, directional drilling, underbalanced and managed pressure drilling, equipment rentals, transportation, wireline services, and production testing services. Ensign produces enhanced drilling with the help of its proprietary automated drilling rigs. The automated drilling rigs are built for improved safety and a reduced environmental footprint. Most of the company’s revenue is derived from the United States and Canada.