Today, an analyst has provided a rating update for Ensign Energy Services (ESI). Analyst Jon Morrison from CIBC rated Ensign Energy Services (ESI) a Buy, setting a C$6.50 price target.
According to TipRanks.com, Morrison is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -19.9% and a 27.1% success rate. Morrison covers the Basic Materials sector, focusing on stocks such as Trican Well Service Ltd, Cenovus Energy Inc, and Precision Drilling.
Ensign Energy Services has an analyst consensus of Moderate Buy, with a price target consensus of C$6.70, implying a 59.1% upside from current levels. In a report issued on July 3, RBC Capital also initiated coverage with a Buy rating on the stock with a C$8 price target.
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Based on Ensign Energy Services’ latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of C$22.35 million. In comparison, last year the company had a GAAP net loss of C$36.7 million.
Ensign Energy Services, Inc. engages in the provision oilfield services. It includes drilling and well servicing, oil sands coring, directional drilling, underbalanced and managed pressure drilling, equipment rentals, transportation, wireline services, and production testing services.
The company’s shares closed on Thursday at C$4.21, close to its 52-week low of C$3.99.
