Ensign Energy Services Stock Moves Above 200-Day Average - What Does It Mean?

On Tuesday, shares of Ensign Energy Services Inc. (TSE:ESI) rose above their 200-day moving average, closing at C$3.16, up from a previous average of C$2.80. The stock had a trading volume of 284,214 shares.

Recent Analyst Ratings and Price Targets

A number of analysts have recently provided insights on the stock. ATB Capital raised its price target from C$4.50 to C$5.50, expressing a positive outlook. Meanwhile, TD Securities adjusted their rating from "buy" to "hold" and revised the price target down from C$3.25 to C$3.00. BMO Capital Markets also increased its price target from C$3.25 to C$3.50. The consensus among analysts is a "Hold" rating for Ensign Energy Services, with a target price of C$3.67 according to MarketBeat.com.

Performance and Financials

Ensign Energy Services saw a notable increase in its stock price, up 7.5%. The company's financial ratios indicate a debt-to-equity ratio of 84.02, a current ratio of 0.98, and a quick ratio of 1.30. Its market capitalization stands at C$583.64 million, with a price-to-earnings (PE) ratio of 18.47 and a price-to-earnings-growth (PEG) ratio of 202.94. The stock has a 50-day moving average of C$3.07, and as mentioned, the 200-day moving average is C$2.80.

Insider Trading Activity

Recent insider transactions indicate mixed sentiment. Director Cary A. Moomjian Jr. acquired 10,000 shares at an average price of C$2.97, totaling around C$29,694. Conversely, Senior Officer Brent John Conway sold 35,000 shares at an average price of C$2.86, valued at approximately C$100,100. Notably, insiders own about 44.90% of the company’s stock.

Company Overview

Ensign Energy Services Inc. provides a wide range of oilfield services to the crude oil and natural gas sectors, both in Canada and internationally. Their offerings include various drilling services—shallow, intermediate, and deep well along with horizontal and specialized drilling techniques.

Final Considerations

Considering the stock’s recent performance and the mixed ratings from analysts, investors may wonder whether it is the right time to hold or sell. As always, it is advisable to conduct thorough research and consider market conditions before making any investment decisions.

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