Ensign Energy Services Inc Stock Is Increasing Now. What To Expect?

 Ensign Energy Services Inc Stock Is Increasing Now. What To Expect?

The stock of Ensign Energy Services Inc (TSE:ESI) gapped up by $0.27 today and has $9.78 target or 9.00% above today’s $8.97 share price. The 6 months technical chart setup indicates low risk for the $1.40 billion company. The gap was reported on Nov, 30 by Barchart.com. If the $9.78 price target is reached, the company will be worth $126.00 million more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. About 84,700 shares traded hands. Ensign Energy Services Inc (TSE:ESI) has risen 7.80% since April 26, 2016 and is uptrending. It has outperformed by 2.57% the S&P500.

Ensign Energy Services Inc (TSE:ESI) Ratings Coverage

Out of 6 analysts covering Ensign Energy Services Inc. (TSE:ESI), 1 rate it a “Buy”, 0 “Sell”, while 5 “Hold”. This means 17% are positive. $12 is the highest target while $7.50 is the lowest. The $8.61 average target is -4.01% below today’s ($8.97) stock price. Ensign Energy Services Inc. has been the topic of 23 analyst reports since August 5, 2015 according to StockzIntelligence Inc. The stock of Ensign Energy Services Inc (TSE:ESI) has “Market Perform” rating given on Tuesday, November 10 by FirstEnergy Capital. Scotia Capital maintained Ensign Energy Services Inc (TSE:ESI) rating on Thursday, August 11. Scotia Capital has “Sector Perform” rating and $9 price target. The stock of Ensign Energy Services Inc (TSE:ESI) has “Sector Perform” rating given on Wednesday, November 9 by Scotia Capital. TD Securities maintained the stock with “Hold” rating in Thursday, August 11 report. The company was upgraded on Wednesday, October 14 by Altacorp. The firm has “Hold” rating by TD Securities given on Wednesday, November 9.

More news for Ensign Energy Services Inc (TSE:ESI) were recently published by: Marketwatch.com, which released: “Ensign Energy Services Inc.” on December 21, 2009. Seekingalpha.com‘s article titled: “Ensign Energy Services: End Of A Dividend Era?” and published on October 17, 2016 is yet another important article.

Ensign Energy Services Inc. is a Canada firm engaged in the business of providing oilfield services to the gas and oil industry in Canada, the United States and internationally. The company has a market cap of $1.40 billion. The Company’s oilfield services include drilling and well servicing, oil sands coring, directional services, underbalanced and managed pressure drilling, equipment rentals, wireline services and production testing/fracturing fluid services. It currently has negative earnings. The Company’s Canadian activities span over four western provinces of British Columbia, Alberta, Saskatchewan and Manitoba and include the Northwest Territories and the Yukon.

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