TD Securities Cuts Ensign Energy Services (TSE:ESI) Price Target to C$2.75

Ensign Energy Services (TSE:ESI) had its price target cut by equities research analysts at TD Securities from C$3.00 to C$2.75 in a report released on Monday,BayStreet.CA reports. The brokerage presently has a “hold” rating on the stock. TD Securities’ target price points to a potential upside of 30.33% from the company’s previous close.

Several other brokerages also recently commented on ESI. BMO Capital Markets reduced their target price on Ensign Energy Services from C$4.25 to C$3.50 in a research note on Monday. ATB Capital lifted their target price on Ensign Energy Services from C$4.50 to C$5.50 in a research note on Tuesday, December 10th.

Ensign Energy Services Stock Performance

Shares of TSE ESI traded down C$0.14 during midday trading on Monday, hitting C$2.11. 913,200 shares of the company’s stock were exchanged, compared to its average volume of 292,369. The company has a quick ratio of 1.30, a current ratio of 0.98 and a debt-to-equity ratio of 84.02. Ensign Energy Services has a 12 month low of C$2.06 and a 12 month high of C$3.52. The company’s 50 day moving average price is C$3.05 and its 200 day moving average price is C$2.83. The firm has a market capitalization of C$389.71 million, a PE ratio of 12.34, a price-to-earnings-growth ratio of 202.94 and a beta of 3.05.

Insider Buying and Selling

In related news, Senior Officer Robert Harold Geddes acquired 50,400 shares of the company’s stock in a transaction 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. Also, Director Cary A. Moomjian Jr. acquired 10,000 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was bought at an average cost of C$2.97 per share, with a total value of C$29,694.00. 44.90% of the stock is currently owned by insiders.

About Ensign Energy Services

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.