The Materials sector company, Essential Energy (ESN), has received a rating update from a Wall Street analyst today. The company received a Buy rating from Raymond James’ analyst Andrew Bradford, with a C$0.65 price target.
According to TipRanks.com, Bradford ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -17.5% and a 30.8% success rate. Bradford covers the Basic Materials sector, focusing on stocks such as Essential Energy Services Ltd, Trican Well Service Ltd, and Precision Drilling.
Currently, the analyst consensus on Essential Energy is a Moderate Buy with an average price target of C$0.65.
Based on Essential Energy’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of C$2.23 million. In comparison, last year the company had a GAAP net loss of C$3.84 million.
Essential Energy Services Ltd. engages in the provision of oilfield services to oil and natural gas exploration and production companies. It operates through the following segments: Essential Coil Well Service (ECWS), Tryton, and Corporate and Eliminations.
The company’s shares closed on Wednesday at C$0.34.
