Ensign Energy Services (TSE:ESI) Rating Lowered to Hold at Royal Bank Of Canada

Key Points

• Ensign Energy Services has been downgraded by Royal Bank Of Canada from an "outperform" to a "sector perform" rating, with a new price target raised to C$3.00.
• The company's stock fell by 2.3% to C$2.54, with a market capitalization of C$466.66 million.
• Ensign Energy Services provides various drilling and well servicing solutions, utilizing proprietary automated drilling rigs for enhanced performance.

Ensign Energy Services (TSE:ESI - Get Free Report) was downgraded by analysts at Royal Bank Of Canada from a "moderate buy" rating to a "hold" rating in a research report issued on Thursday, Marketbeat Ratings reports. They currently have a C$3.00 target price on the stock, up from their previous target price of C$2.50. Royal Bank Of Canada's price target would indicate a potential upside of 17.65% from the stock's previous close.

Ensign Energy Services Price Performance

ESI stock opened at C$2.55 on Thursday. Ensign Energy Services has a 12-month low of C$1.73 and a 12-month high of C$3.52. The stock has a 50-day moving average price of C$2.28 and a two-hundred day moving average price of C$2.18. The company has a current ratio of 0.98, a quick ratio of 1.30 and a debt-to-equity ratio of 84.02. The company has a market cap of C$468.50 million, a PE ratio of -12.75, a price-to-earnings-growth ratio of 202.94 and a beta of 2.07.

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.