Eco-Stim Energy Solutions Inc (ESES) Lifted to “Hold” at Zacks Investment Research
Eco-Stim Energy Solutions Inc (NASDAQ:ESES) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Tuesday.
According to Zacks, “Eco-Stim Energy Solutions, Inc. is an oilfield service and technology company. The company provides management technologies, well stimulation and completion services to oil and gas producers. Eco-Stim Energy Solutions, Inc. is based in Houston, Texas. “
A number of other research firms have also recently issued reports on ESES. Seaport Global Securities restated a “buy” rating on shares of Eco-Stim Energy Solutions in a research report on Friday, August 19th. Credit Suisse Group AG began coverage on Eco-Stim Energy Solutions in a research report on Monday, July 18th. They issued an “outperform” rating and a $5.00 price target on the stock. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $5.17.
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Shares of Eco-Stim Energy Solutions (NASDAQ:ESES) traded down 2.03% during midday trading on Tuesday, reaching $1.93. 50,804 shares of the company’s stock traded hands. Eco-Stim Energy Solutions has a 52-week low of $1.86 and a 52-week high of $5.45. The firm’s market capitalization is $26.33 million. The stock’s 50 day moving average price is $2.17 and its 200 day moving average price is $2.49.
Eco-Stim Energy Solutions (NASDAQ:ESES) last released its quarterly earnings data on Monday, August 15th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.26) by $0.01. The firm earned $2.34 million during the quarter, compared to analyst estimates of $3.32 million. On average, equities research analysts anticipate that Eco-Stim Energy Solutions will post ($1.08) EPS for the current fiscal year.
In other Eco-Stim Energy Solutions news, major shareholder Argentina Opportunit Bienville bought 300,000 shares of the firm’s stock in a transaction dated Thursday, August 18th. The shares were bought at an average price of $2.25 per share, for a total transaction of $675,000.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Hedge funds have recently made changes to their positions in the company. Geneva Advisors LLC raised its position in shares of Eco-Stim Energy Solutions by 8.2% in the second quarter. Geneva Advisors LLC now owns 95,667 shares of the company’s stock valued at $277,000 after buying an additional 7,279 shares during the period. Vanguard Group Inc. raised its position in shares of Eco-Stim Energy Solutions by 1.1% in the second quarter. Vanguard Group Inc. now owns 82,393 shares of the company’s stock valued at $239,000 after buying an additional 900 shares during the period. Bienville Capital Management LLC raised its position in shares of Eco-Stim Energy Solutions by 3.5% in the second quarter. Bienville Capital Management LLC now owns 2,480,926 shares of the company’s stock valued at $7,195,000 after buying an additional 83,538 shares during the period. Finally, Emancipation Management LLC raised its position in shares of Eco-Stim Energy Solutions by 3,381.4% in the second quarter. Emancipation Management LLC now owns 632,255 shares of the company’s stock valued at $1,833,000 after buying an additional 614,094 shares during the period.
About Eco-Stim Energy Solutions
Eco-Stim Energy Solutions, Inc is an oilfield services company. The Company provides well stimulation, coiled tubing and field management services to the upstream oil and gas industry. The Company focuses on the active shale and unconventional oil and natural gas basins outside the United States and it has commenced operations in Argentina.
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