Zacks Investment Research Upgrades Eco-Stim Energy Solutions Inc (ESES) to “Hold”
Eco-Stim Energy Solutions Inc (NASDAQ:ESES) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued 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. “
ESES has been the subject of a number of other research reports. Seaport Global Securities reiterated a “buy” rating on shares of Eco-Stim Energy Solutions in a research note on Friday, August 19th. Credit Suisse Group AG started coverage on shares of Eco-Stim Energy Solutions in a research note on Monday, July 18th. They issued an “outperform” rating and a $5.00 target price for the company. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $5.17.
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Eco-Stim Energy Solutions (NASDAQ:ESES) traded down 2.03% during midday trading on Tuesday, hitting $1.93. The stock had a trading volume of 50,804 shares. Eco-Stim Energy Solutions has a one year low of $1.86 and a one year high of $5.45. The company’s market cap is $26.33 million. The stock’s 50-day moving average is $2.17 and its 200-day moving average is $2.49.
Eco-Stim Energy Solutions (NASDAQ:ESES) last announced its quarterly earnings results on Monday, August 15th. The company reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.26) by $0.01. The business had revenue of $2.34 million for the quarter, compared to analysts’ expectations of $3.32 million. Equities analysts predict that Eco-Stim Energy Solutions will post ($1.08) EPS for the current fiscal year.
In related news, major shareholder Argentina Opportunit Bienville acquired 300,000 shares of the company’s stock in a transaction that occurred on Thursday, August 18th. The stock was purchased at an average price of $2.25 per share, for a total transaction of $675,000.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in 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. Geneva Advisors LLC boosted its position in 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. Emancipation Management LLC boosted its position in 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. Finally, Bienville Capital Management LLC boosted its position in 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.
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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