Zacks Investment Research Upgrades Eco-Stim Energy Solutions, Inc. (ESES) to Buy
Eco-Stim Energy Solutions, Inc. (NASDAQ:ESES) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday. The firm presently has a $1.50 price objective on the oil and gas company’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 11.11% from the company’s previous close.
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. “
Other equities analysts also recently issued research reports about the stock. Seaport Global Securities restated a “neutral” rating on shares of Eco-Stim Energy Solutions in a report on Thursday, July 20th. Credit Suisse Group cut their price objective on shares of Eco-Stim Energy Solutions from $4.00 to $2.50 and set an “outperform” rating on the stock in a report on Monday, August 14th. Finally, FBR & Co upped their price objective on shares of Eco-Stim Energy Solutions from $2.20 to $2.50 and gave the company an “outperform” rating in a report on Monday, July 24th.
Eco-Stim Energy Solutions (NASDAQ ESES) traded down 4.93% during trading on Tuesday, hitting $1.35. 16,157 shares of the company were exchanged. The firm’s 50 day moving average price is $1.42 and its 200-day moving average price is $1.25. Eco-Stim Energy Solutions has a 1-year low of $0.66 and a 1-year high of $2.54. The stock’s market capitalization is $100.39 million.
Eco-Stim Energy Solutions (NASDAQ:ESES) last posted its quarterly earnings data on Thursday, August 10th. The oil and gas company reported ($0.21) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.22) by $0.01. Eco-Stim Energy Solutions had a negative net margin of 134.72% and a negative return on equity of 69.12%. The firm had revenue of $8.53 million for the quarter, compared to the consensus estimate of $8.88 million. Equities analysts predict that Eco-Stim Energy Solutions will post ($0.50) EPS for the current year.
A number of large investors have recently modified their holdings of ESES. Geneva Advisors LLC raised its stake in shares of Eco-Stim Energy Solutions by 22.6% in the second quarter. Geneva Advisors LLC now owns 97,667 shares of the oil and gas company’s stock worth $122,000 after buying an additional 18,000 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Eco-Stim Energy Solutions by 5.5% in the second quarter. Vanguard Group Inc. now owns 512,551 shares of the oil and gas company’s stock worth $641,000 after buying an additional 26,572 shares in the last quarter. Arosa Capital Management LP purchased a new stake in shares of Eco-Stim Energy Solutions during the first quarter worth approximately $293,000. Finally, Phoenix Investment Adviser LLC purchased a new stake in shares of Eco-Stim Energy Solutions during the first quarter worth approximately $551,000. Hedge funds and other institutional investors own 14.15% of the company’s stock.
Eco-Stim Energy Solutions Company Profile
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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