Ensign Energy downgraded to Market Perform from Outperform at BMO Capital

BMO Capital analyst John Gibson downgraded Ensign Energy (ESVIF) to Market Perform from Outperform with an unchanged price target of C$3. The company’s shareholder returns are not expected to ramp until 2027 at the earliest, the analyst tells investors in a research note. BMO now sees better near-term opportunities in the Canadian oilfield service space following Ensign’s recent share rally.