Ensign Energy Services (TSE:ESI) Shares Pass Above 200-Day Moving Average – Should You Sell?

Ensign Energy Services Inc. (TSE:ESI)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$2.22 and traded as high as C$2.63. Ensign Energy Services shares last traded at C$2.55, with a volume of 60,431 shares changing hands.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Royal Bank Of Canada downgraded 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 report on Thursday, October 9th. CIBC raised their price objective on Ensign Energy Services from C$2.50 to C$2.75 in a research report on Wednesday, October 15th. Three investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Ensign Energy Services has an average rating of “Hold” and a consensus target price of C$3.30.

Ensign Energy Services Price Performance

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 stock has a market cap of C$468.50 million, a price-to-earnings ratio of -12.75, a PEG ratio of 202.94 and a beta of 2.07. The stock has a 50-day moving average price of C$2.40 and a two-hundred day moving average price of C$2.22.

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.