Evercore ISI cut shares of Ensign Energy Services (TSE:ESI) from an outperform rating to an in-line rating in a research note issued to investors on Tuesday morning. The brokerage currently has C$6.00 price objective on the stock, down from their prior price objective of C$7.00.

Several other brokerages also recently weighed in on ESI. Canaccord Genuity upped their target price on Ensign Energy Services from C$6.00 to C$6.50 in a research note on Friday, August 17th. BMO Capital Markets dropped their price target on Ensign Energy Services from C$7.50 to C$6.50 and set a market perform rating for the company in a research report on Wednesday, August 8th. GMP Securities upgraded Ensign Energy Services from a reduce rating to a hold rating and boosted their price target for the stock from C$5.00 to C$5.75 in a research report on Wednesday, August 8th. Evercore cut Ensign Energy Services from an outperform rating to an in-line rating and dropped their price target for the stock from C$7.00 to C$6.00 in a research report on Tuesday. Finally, CIBC dropped their price target on Ensign Energy Services from C$9.50 to C$8.50 in a research report on Tuesday. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of C$6.94.

Shares of ESI stock opened at C$5.33 on Tuesday. Ensign Energy Services has a 1-year low of C$5.29 and a 1-year high of C$7.83.

Ensign Energy Services (TSE:ESI) last announced its earnings results on Tuesday, August 7th. The company reported C($0.23) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of C($0.26) by C$0.03. The business had revenue of C$263.06 million during the quarter, compared to the consensus estimate of C$244.05 million. Ensign Energy Services had a negative return on equity of 8.73% and a negative net margin of 14.78%.

The company also recently declared a quarterly dividend, which was paid on Thursday, October 4th. Investors of record on Thursday, October 4th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 9.01%. The ex-dividend date was Thursday, September 20th.

In other news, Director Roger Lace purchased 5,500 shares of the company’s stock in a transaction that occurred on Thursday, October 11th. The stock was purchased at an average cost of C$5.81 per share, for a total transaction of C$31,955.00.

Ensign Energy Services Company Profile

Ensign Energy Services Inc, together with its subsidiaries, provides oilfield services in Canada, the United States, and internationally. The company offers shallow, intermediate, and deep well drilling, as well as specialized drilling services, including horizontal, underbalanced, horizontal re-entry, and slant drilling for steam assisted gravity drainage applications; and coring and oil sands drilling services to the mining, and oil and natural gas industries.

Read More: Outstanding Shares and The Effect on Share Price

Analyst Recommendations for Ensign Energy Services (TSE:ESI)

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