Ensign Energy Services (TSE:ESI) Reaches New 52-Week Low – What’s Next?

Ensign Energy Services Inc. (TSE:ESI) shares hit a new 52-week low during trading on Friday . The stock traded as low as C$1.86 and last traded at C$1.90, with a volume of 627808 shares trading hands. The stock had previously closed at C$2.14.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ESI. BMO Capital Markets decreased their target price on Ensign Energy Services from C$4.25 to C$3.50 in a research report on Monday, March 10th. ATB Capital boosted their price objective on Ensign Energy Services from C$4.50 to C$5.50 in a report on Tuesday, December 10th. Finally, TD Securities cut their target price on Ensign Energy Services from C$3.00 to C$2.75 and set a “hold” rating on the stock in a report on Monday, March 10th.

Ensign Energy Services Stock Performance

The firm has a market cap of C$363.85 million, a P/E ratio of 11.52, a PEG 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. The company’s 50-day moving average is C$2.66 and its two-hundred day moving average is C$2.82.

Insider Activity

In other Ensign Energy Services news, Senior Officer Robert Harold Geddes bought 50,000 shares of the business’s stock in a transaction dated Thursday, April 3rd. The shares were purchased at an average price of C$2.17 per share, for a total transaction of C$108,500.00. Also, Director Cary A. Moomjian Jr. bought 10,000 shares of Ensign Energy Services stock in a transaction dated Monday, February 3rd. The stock was acquired at an average cost of C$2.97 per share, with a total value of C$29,694.00. Insiders have purchased 70,000 shares of company stock worth $160,514 over the last 90 days. 44.90% of the stock is currently owned by corporate 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.