Raymond James Downgrades Essential Energy Services Ltd to Market Perform (ESN)
Essential Energy Services Ltd (TSE:ESN) was downgraded by equities research analysts at Raymond James from an “outperform” rating to a “market perform” rating in a research note issued to investors on Thursday, AmericanBankingNews.com reports. They currently have a C$3.20 price target on the stock, up from their previous price target of C$3.00. Raymond James’ price objective suggests a potential upside of 7.02% from the company’s current price.
Shares of Essential Energy Services Ltd (TSE:ESN) traded down 1.67% on Thursday, hitting $2.94. The stock had a trading volume of 1,119,438 shares. Essential Energy Services Ltd has a one year low of $1.85 and a one year high of $3.15. The stock has a 50-day moving average of $2.58 and a 200-day moving average of $2.38. The company has a market cap of $368.1 million and a P/E ratio of 21.36.
Other equities research analysts have also recently issued reports about the stock. Analysts at TD Securities raised their price target on shares of Essential Energy Services Ltd from C$3.50 to C$3.75 in a research note to investors on Thursday. They now have a “buy” rating on the stock. Analysts at Pi Financial raised their price target on shares of Essential Energy Services Ltd from C$3.25 to C$3.50 in a research note to investors on Friday, August 9th. They now have a “buy” rating on the stock. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of C$3.45.
Essential Energy Services Ltd. supplies specialized staff and equipment to oil and natural gas exploration, development and production entities to support drilling new wells and servicing existing wells.
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