Ensign Energy Services (TSE:ESI) Reaches New 52-Week Low After Analyst Downgrade

Shares of Ensign Energy Services Inc. (TSE:ESI) reached a new 52-week low during trading on Monday after TD Securities lowered their price target on the stock from C$3.00 to C$2.75. TD Securities currently has a hold rating on the stock. Ensign Energy Services traded as low as C$2.06 and last traded at C$2.08, with a volume of 838740 shares. The stock had previously closed at C$2.25.

Several other equities research analysts have also recently issued reports on the stock. ATB Capital boosted their price objective on shares of Ensign Energy Services from C$4.50 to C$5.50 in a research report on Tuesday, December 10th. BMO Capital Markets reduced their price objective on shares of Ensign Energy Services from C$4.25 to C$3.50 in a research note on Monday.

Insider Activity

In other news, Director Cary A. Moomjian Jr. purchased 10,000 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were purchased at an average cost of C$2.97 per share, with a total value of C$29,694.00. Insiders own 44.90% of the company’s stock.

Ensign Energy Services Price Performance

The stock’s fifty day moving average is C$3.05 and its 200-day moving average is C$2.83. The stock has a market capitalization of C$387.86 million, a PE ratio of 12.28, a P/E/G ratio of 202.94 and a beta of 3.05. The company has a debt-to-equity ratio of 84.02, a current ratio of 0.98 and a quick ratio of 1.30.

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.