Ensign Energy Services (TSE:ESI) Stock Price Up 15.1% – Here’s Why

Ensign Energy Services Inc. (TSE:ESI)’s share price traded up 15.1% on Thursday . The stock traded as high as C$2.09 and last traded at C$2.06. 255,396 shares were traded during mid-day trading, a decline of 6% from the average session volume of 272,797 shares. The stock had previously closed at C$1.79.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. BMO Capital Markets reduced their price objective on Ensign Energy Services from C$4.25 to C$3.50 in a research note on Monday, March 10th. CIBC reduced their price target on Ensign Energy Services from C$3.75 to C$3.25 in a research report on Thursday. Finally, TD Securities decreased their price target on Ensign Energy Services from C$3.00 to C$2.75 and set a “hold” rating on the stock in a research note on Monday, March 10th.

Ensign Energy Services Stock Performance

The business’s fifty day simple moving average is C$2.50 and its 200-day simple moving average is C$2.79. The firm has a market cap of C$347.23 million, a P/E ratio of 10.99, a price-to-earnings-growth ratio of 202.94 and a beta of 3.05. The company has a current ratio of 0.98, a quick ratio of 1.30 and a debt-to-equity ratio of 84.02.

Insider Buying and Selling

In other Ensign Energy Services news, Senior Officer Robert Harold Geddes purchased 50,000 shares of the company’s stock in a transaction that occurred on Thursday, April 3rd. The stock was bought at an average price of C$2.17 per share, with a total value of C$108,500.00. Also, Director Cary A. Moomjian Jr. purchased 10,000 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was bought at an average price of C$2.97 per share, for a total transaction of C$29,694.00. Insiders have acquired 80,000 shares of company stock valued at $179,329 over the last ninety days. 44.90% of the stock is owned by insiders.

Ensign Energy Services Company Profile

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.