Eco-Stim Energy Solutions Inc (NASDAQ:ESES) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Monday.
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. “
A number of other analysts have also commented on the stock. Seaport Global Securities restated a “buy” rating on shares of Eco-Stim Energy Solutions in a research note on Friday, August 19th. Credit Suisse Group AG assumed coverage on shares of Eco-Stim Energy Solutions in a research note on Monday, July 18th. They set an “outperform” rating and a $5.00 price target for the company. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $5.17.
Eco-Stim Energy Solutions (NASDAQ:ESES) opened at 2.24 on Monday. The company’s market capitalization is $30.56 million. The stock has a 50 day moving average of $2.32 and a 200 day moving average of $2.52. Eco-Stim Energy Solutions has a 12 month low of $1.88 and a 12 month high of $5.45.
Eco-Stim Energy Solutions (NASDAQ:ESES) last announced its quarterly earnings results on Monday, August 15th. The company reported ($0.27) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.26) by $0.01. The business had revenue of $2.34 million for the quarter, compared to analyst estimates of $3.32 million. Equities analysts anticipate that Eco-Stim Energy Solutions will post ($1.08) EPS for the current fiscal year.
In other news, major shareholder Argentina Opportunit Bienville acquired 20,000 shares of the business’s stock in a transaction on Wednesday, August 17th. The shares were purchased at an average cost of $2.40 per share, with a total value of $48,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Several institutional investors have recently modified their holdings of ESES. Bienville Capital Management LLC increased its position in shares of Eco-Stim Energy Solutions by 3.5% in the second quarter. Bienville Capital Management LLC now owns 2,480,926 shares of the company’s stock worth $7,195,000 after buying an additional 83,538 shares during the period. Emancipation Management LLC increased its position in shares of Eco-Stim Energy Solutions by 3,381.4% in the second quarter. Emancipation Management LLC now owns 632,255 shares of the company’s stock worth $1,833,000 after buying an additional 614,094 shares during the period. Geneva Advisors LLC increased its position in shares of Eco-Stim Energy Solutions by 8.2% in the second quarter. Geneva Advisors LLC now owns 95,667 shares of the company’s stock worth $277,000 after buying an additional 7,279 shares during the period. Finally, Vanguard Group Inc. increased its position in shares of Eco-Stim Energy Solutions by 1.1% in the second quarter. Vanguard Group Inc. now owns 82,393 shares of the company’s stock worth $239,000 after buying an additional 900 shares during the period.
About Eco-Stim Energy Solutions
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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