Ensign Energy Services (TSE:ESI) Sets New 52-Week High – Still a Buy?

Shares of Ensign Energy Services Inc. (TSE:ESI) hit a new 52-week high on Monday . The company traded as high as C$3.04 and last traded at C$3.02, with a volume of 116194 shares changing hands. The stock had previously closed at C$2.91.

Wall Street Analysts Forecast Growth

ESI has been the subject of a number of research reports. BMO Capital Markets dropped their target price on shares of Ensign Energy Services from C$3.50 to C$3.25 in a report on Friday, October 4th. TD Securities lowered their price objective on shares of Ensign Energy Services from C$3.50 to C$3.25 and set a “buy” rating for the company in a research report on Tuesday, October 8th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Ensign Energy Services currently has a consensus rating of “Moderate Buy” and a consensus price target of C$3.58.

Ensign Energy Services Price Performance

The business’s 50 day moving average is C$2.63 and its two-hundred day moving average is C$2.46. The company has a debt-to-equity ratio of 87.50, a quick ratio of 1.30 and a current ratio of 0.97. The firm has a market capitalization of C$560.19 million, a PE ratio of 24.25, a price-to-earnings-growth ratio of 202.94 and a beta of 3.05.

Ensign Energy Services (TSE:ESI) last posted its quarterly earnings data on Friday, August 2nd. The company reported C($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of C($0.04) by C$0.02. Ensign Energy Services had a return on equity of 1.63% and a net margin of 1.23%. The company had revenue of C$391.79 million during the quarter, compared to analyst estimates of C$387.80 million. Equities research analysts anticipate that Ensign Energy Services Inc. will post 0.2901354 earnings per share for the current fiscal year.

Insider Activity at Ensign Energy Services

In related news, Director Donna Jeanne Carson acquired 17,443 shares of the stock in a transaction on Wednesday, October 16th. The stock was purchased at an average price of C$2.87 per share, for a total transaction of C$50,061.41. In related news, Director Donna Jeanne Carson bought 17,443 shares of the business’s stock in a transaction dated Wednesday, October 16th. The shares were purchased at an average price of C$2.87 per share, with a total value of C$50,061.41. Also, Senior Officer Michael Gray bought 15,000 shares of Ensign Energy Services stock in a transaction on Wednesday, August 7th. The shares were purchased at an average price of C$2.24 per share, for a total transaction of C$33,630.00. In the last 90 days, insiders have acquired 43,443 shares of company stock valued at $108,865. Insiders own 44.90% of the company’s stock.

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.