Ensign Energy Services (TSE:ESI) Share Price Crosses Above 200 Day Moving Average - Here's What Happened

Key Points

• Ensign Energy Services' stock price recently surpassed its 200-day moving average, climbing to C$2.55 from a previous average of C$2.19.
• CIBC raised its target price for the stock from C$2.50 to C$2.75, while Royal Bank of Canada upgraded their target from C$2.50 to C$3.00 but downgraded their rating to "hold."
• The company has a market capitalization of C$466.66 million and a consensus rating of "Hold" with an average price target of C$3.30.

Ensign Energy Services Inc. (TSE:ESI - Get Free Report) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$2.19 and traded as high as C$2.55. Ensign Energy Services shares last traded at C$2.54, with a volume of 108,174 shares.

Wall Street Analyst Weigh In

ESI has been the subject of a number of analyst reports. CIBC lifted their target price on shares of Ensign Energy Services from C$2.50 to C$2.75 in a research note on Wednesday, October 15th. Royal Bank Of Canada downgraded shares of Ensign Energy Services from a "moderate buy" rating to a "hold" rating and lifted their price target for the company from C$2.50 to C$3.00 in a research note on Thursday, October 9th. Three investment analysts have rated the stock with a Hold rating, According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of C$3.30.

Ensign Energy Services Price Performance

The stock has a market capitalization of C$466.66 million, a price-to-earnings ratio of -12.70, a PEG ratio of 202.94 and a beta of 2.07. The business's fifty day moving average price is C$2.33 and its 200-day moving average price is C$2.19. The company has a debt-to-equity ratio of 84.02, a current ratio of 0.98 and a quick ratio of 1.30.

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.

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