Could Ensign Energy Services Inc Go Down After Reaching 52-Week High?

 Could Ensign Energy Services Inc Go Down After Reaching 52 Week High?

The stock of Ensign Energy Services Inc (TSE:ESI) hit a new 52-week high and has $10.20 target or 9.00% above today’s $9.36 share price. The 6 months bullish chart indicates low risk for the $1.64B company. The 1-year high was reported on Dec, 1 by Barchart.com. If the $10.20 price target is reached, the company will be worth $147.60M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 18,976 shares traded hands. Ensign Energy Services Inc (TSE:ESI) has risen 20.45% since April 27, 2016 and is uptrending. It has outperformed by 14.52% 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 -8.01% below today’s ($9.36) stock price. Ensign Energy Services Inc. has been the topic of 23 analyst reports since August 5, 2015 according to StockzIntelligence Inc. On Tuesday, November 10 the stock rating was downgraded by FirstEnergy Capital to “Market Perform”. The firm has “Outperform” rating by Altacorp given on Wednesday, October 14. The firm earned “Hold” rating on Wednesday, November 9 by TD Securities. On Wednesday, November 9 the stock rating was maintained by Scotia Capital with “Sector Perform”. As per Thursday, August 11, the company rating was maintained by TD Securities. The rating was maintained by Scotia Capital on Thursday, August 11 with “Sector Perform”.

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 $1.64 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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