Fir Tree Capital Management LP stated that they own a 70.5% stake in Eco-Stim Energy Solutions (NASDAQ:ESES) in a Schedule 13D/A disclosure that was filed with the SEC on Monday, April 2nd. The investor owns 58,720,930 shares of the stock worth about $54,610,465. The disclosure is available through the SEC website at this hyperlink.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Bienville Capital Management LLC grew its holdings in shares of Eco-Stim Energy Solutions by 107.4% during the third quarter. Bienville Capital Management LLC now owns 6,178,261 shares of the oil and gas company’s stock worth $9,514,000 after buying an additional 3,198,727 shares in the last quarter. B. Riley Financial Inc. grew its holdings in shares of Eco-Stim Energy Solutions by 108.1% during the fourth quarter. B. Riley Financial Inc. now owns 193,702 shares of the oil and gas company’s stock worth $244,000 after buying an additional 100,627 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Eco-Stim Energy Solutions by 5.5% during the second quarter. Vanguard Group Inc. now owns 512,551 shares of the oil and gas company’s stock worth $641,000 after buying an additional 26,572 shares in the last quarter. 84.35% of the stock is owned by institutional investors.
Shares of ESES traded down $0.02 during mid-day trading on Monday, reaching $0.93. The stock had a trading volume of 135,580 shares, compared to its average volume of 140,996. The company has a current ratio of 0.93, a quick ratio of 0.81 and a debt-to-equity ratio of 0.02. Eco-Stim Energy Solutions has a 52-week low of $0.86 and a 52-week high of $1.97. The firm has a market capitalization of $70.85, a P/E ratio of -3.58 and a beta of 2.24.
Eco-Stim Energy Solutions (NASDAQ:ESES) last announced its quarterly earnings data on Friday, March 9th. The oil and gas company reported ($0.07) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.03) by ($0.04). Eco-Stim Energy Solutions had a negative net margin of 61.22% and a negative return on equity of 35.19%. The firm had revenue of $19.81 million during the quarter, compared to analysts’ expectations of $21.86 million. equities research analysts predict that Eco-Stim Energy Solutions will post -0.04 earnings per share for the current fiscal year.
ESES has been the subject of a number of research reports. Seaport Global Securities raised shares of Eco-Stim Energy Solutions from a “neutral” rating to a “buy” rating in a report on Wednesday, December 20th. Zacks Investment Research raised shares of Eco-Stim Energy Solutions from a “sell” rating to a “hold” rating in a report on Tuesday, February 20th. Finally, B. Riley set a $3.00 target price on shares of Eco-Stim Energy Solutions and gave the stock a “buy” rating in a report on Tuesday, March 13th. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $2.22.
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Eco-Stim Energy Solutions Profile
Eco-Stim Energy Solutions, Inc provides oilfield services in the United States and Argentina. The company offers pressure pumping, coiled tubing, and field management services to the upstream oil and gas industry. Its customers consist primarily of international oil and gas exploration and production companies, including national oil companies, local privately-held exploration and production companies, and other service companies.
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