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Essential Energy Services (TSE:ESN) was downgraded by equities research analysts at National Bank Financial from an “outperform” rating to a “sector perform” rating in a research note issued to investors on Wednesday, American Banking & Market News reports.

A number of other analysts have also recently weighed in on ESN. Analysts at TD Securities downgraded shares of Essential Energy Services from a “buy” rating to a “hold” rating in a research note on Wednesday. They now have a C$3.25 price target on the stock, down previously from C$3.50. Separately, analysts at Canaccord Genuity downgraded shares of Essential Energy Services from a “buy” rating to a “hold” rating in a research note on Wednesday. They now have a C$1.25 price target on the stock, down previously from C$1.50. Finally, analysts at NBF downgraded shares of Essential Energy Services to a “sector perform” rating in a research note on Wednesday. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of C$2.94.

Shares of Essential Energy Services (TSE:ESN) traded down 7.69% during mid-day trading on Wednesday, hitting $2.76. 1,616,193 shares of the company’s stock traded hands. Essential Energy Services has a 52-week low of $2.04 and a 52-week high of $3.25. The stock has a 50-day moving average of $2.81 and a 200-day moving average of $2.81. The company has a market cap of $346.6 million and a P/E ratio of 16.61.

The company also recently announced a quarterly dividend, which is scheduled for Tuesday, July 15th. Shareholders of record on Monday, June 30th will be paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 4.35%. The ex-dividend date is Thursday, June 26th.

Essential Energy Services Ltd. is a Canada-based company. The Company operates the coil well servicing fleet in the Western Canadian Sedimentary Basin (TSE:ESN).

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