Ensign Energy Services Inc ESVIF

CIBC

[Possibleidiot01]

ESI Ensign Energy Services

Target Raised by

CIBC

C$2.37 +2.2%

C$3.25 C$3.75

Neutral

[itsalie]

just shows you what they know

[Adonis1411]

What happens when you get someone dumping an illiquid stock on news. Nothing in this quarter should have been surprising to anyone. Still very good cash flow and higher margins y/o/y on a lower revenue base.  Outlook for 2024 will be pretty good. Strong Canada and Int'l and US market will plod along. Lots of value here from the CF that they are going to generate over the next couple of

[Nothingmatters]

Exactly what I thought  they said news on oil field services is constructive. 

[Schussing56]

Drilling is down 32% in the United States, 19% internationally, and 1% in Canada. Catastrophic news I would say. Oil companies simply aren't investing in exploration and development anymore. They are content, it would seem, to let the renewables take over.  

[Adonis1411]

Yes, year over year comparing Q1. In the process of that, EBITDA was only down 8% during that same comparative period. This is a much healthier business today. Canada Q2 is way ahead of last year; US is maintaining these sustained lower levels of activity but has real upside if gas prices get some strength; and International markets are looking strong with 25% more rigs active today versus Q1