Published On: Mon, Sep 19th, 2016

Essential Energy Services Ltd (TSE:ESN) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of Essential Energy Services Ltd (TSE:ESN) have been assigned a consensus recommendation of “Buy” from the six brokerages that are covering the company. Four investment analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is C$1.02.
ESN has been the topic of a number of analyst reports. AltaCorp Capital cut Essential Energy Services from an “outperform” rating to a “sector perform” rating in a research report on Monday, July 11th. TD Securities reaffirmed a “buy” rating and set a C$0.90 price objective on shares of Essential Energy Services in a research report on Thursday, August 11th. Finally, Clarus Securities cut Essential Energy Services from a “buy” rating to a “hold” rating in a research report on Thursday, August 11th.

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Shares of Essential Energy Services (TSE:ESN) traded down 1.45% during mid-day trading on Monday, reaching $0.68. The company’s stock had a trading volume of 16,762 shares. The stock’s market capitalization is $85.57 million. Essential Energy Services has a 12-month low of $0.45 and a 12-month high of $0.84. The company’s 50-day moving average price is $0.71 and its 200-day moving average price is $0.66.
About Essential Energy Services
Essential Energy Services Ltd. provides oilfield services to oil and gas exploration and production companies in western Canada. The Company operates through two segments: Well Servicing, and Downhole Tools & Rentals. The Well Servicing segment provides well completion, production and workover services throughout the Western Canadian Sedimentary Basin (WCSB).

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