Eco-Stim Energy Solutions, Inc. (ESES) Posts Earnings Results, Beats Expectations By $0.01 EPS
Eco-Stim Energy Solutions, Inc. (NASDAQ:ESES) issued its quarterly earnings results on Thursday. The oil and gas company reported ($0.21) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.22) by $0.01, Morningstar.com reports. Eco-Stim Energy Solutions had a negative net margin of 199.17% and a negative return on equity of 83.32%. The company had revenue of $8.53 million during the quarter, compared to the consensus estimate of $8.88 million.
Shares of Eco-Stim Energy Solutions (NASDAQ ESES) remained flat at $1.48 during mid-day trading on Friday. The company had a trading volume of 4,272 shares. The company’s 50 day moving average is $1.38 and its 200-day moving average is $1.24. Eco-Stim Energy Solutions has a 12 month low of $0.66 and a 12 month high of $2.61. The company’s market cap is $22.24 million.
Several institutional investors have recently added to or reduced their stakes in the stock. Geneva Advisors LLC raised its position in Eco-Stim Energy Solutions by 22.6% in the second quarter. Geneva Advisors LLC now owns 97,667 shares of the oil and gas company’s stock worth $122,000 after buying an additional 18,000 shares during the period. Arosa Capital Management LP purchased a new position in Eco-Stim Energy Solutions during the first quarter worth approximately $293,000. Finally, Phoenix Investment Adviser LLC purchased a new position in Eco-Stim Energy Solutions during the first quarter worth approximately $551,000. Institutional investors own 14.28% of the company’s stock.
ESES has been the subject of a number of recent analyst reports. Zacks Investment Research downgraded shares of Eco-Stim Energy Solutions from a “hold” rating to a “sell” rating in a report on Monday, May 29th. Seaport Global Securities reaffirmed a “neutral” rating on shares of Eco-Stim Energy Solutions in a report on Thursday, July 20th. Finally, FBR & Co upped their price target on shares of Eco-Stim Energy Solutions from $2.20 to $2.50 and gave the stock an “outperform” rating in a report on Monday, July 24th.
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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