The Globe and Mail reports in its Friday, Oct. 10, edition that RBC Dominion Securities analyst Keith Mackey has lowered his recommendation for Ensign Energy Services to "sector perform" from "outperform." The Globe's David Leeder writes that Mr. Mackey gave his share target a 50-cent boost to $3. Analysts on average target the shares a $2.67. Mr. Mackey downgraded Ensign Energy due to flat near-term rig demand and its alignment with peers. He removed the "speculative risk" qualifier, noting improved financial liquidity from an expanded credit facility, which reduces previous debt payback concerns. Mr. Mackey says in a note: "Investors can be paid to wait for a recovery in global rig counts in other land drilling names. Given Ensign has above-average financial leverage, we believe it makes sense to continue to focus on debt repayment in the near-term. However, investors can get paid to wait for a recovery in other land drillers which offer shareholder returns in the form of dividends and/or buybacks. Less-levered land drilling stocks under coverage are set to return 6.7 per cent of market caps in 2025 on average." The Globe reported on April 18 that Mr. Mackey rated Ensign "outperform." It was then worth $1.87.