Ensign Energy Services (TSE:ESI) Reaches New 12-Month High – Still a Buy?

Ensign Energy Services Inc. (TSE:ESI)’s share price hit a new 52-week high on Friday . The company traded as high as C$3.22 and last traded at C$3.20, with a volume of 43591 shares. The stock had previously closed at C$3.15.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ESI. ATB Capital increased their price target on Ensign Energy Services from C$4.50 to C$5.50 in a report on Tuesday, December 10th. TD Securities dropped their target price on Ensign Energy Services from C$3.50 to C$3.25 and set a “buy” rating on the stock in a report on Tuesday, October 8th. Finally, BMO Capital Markets boosted their price target on Ensign Energy Services from C$3.25 to C$3.50 in a research report on Monday, November 4th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of C$3.71.

Ensign Energy Services Stock Performance

The company has a debt-to-equity ratio of 87.50, a current ratio of 0.97 and a quick ratio of 1.30. The stock has a 50-day moving average price of C$2.92 and a 200-day moving average price of C$2.60. The firm has a market capitalization of C$585.91 million, a PE ratio of 26.58, a price-to-earnings-growth ratio of 202.94 and a beta of 3.05.

Insiders Place Their Bets

In other news, Director Donna Jeanne Carson purchased 17,443 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The stock was acquired at an average cost of C$2.87 per share, for a total transaction of C$50,061.41. Also, Senior Officer Robert Harold Geddes acquired 50,400 shares of the stock in a transaction that occurred on Tuesday, December 10th. The stock was purchased at an average cost of C$2.90 per share, with a total value of C$146,160.00. Insiders have acquired 74,593 shares of company stock worth $216,539 in the last three months. 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.