The Globe and Mail reports in its Tuesday, Dec. 16, edition that BMO Nesbitt Burns analyst John Gibson has downgraded Ensign Energy Services to "market perform" from "outperform." The Globe's David Leeder writes in the Eye On Equities column that Mr. Gibson continues to target the shares at $3.50. Analysts on average target the shares at $3. Mr. Gibson says in a note: "Ensign Energy has done a solid job at paying down absolute debt levels, a trend we expect will continue through 2026, although shareholder returns are not expected to ramp until 2027 at the earliest. With the stock up 30 per cent since August, we believe better near-term opportunities in the Canadian oil field service space lie elsewhere." The Globe reported on Aug. 9, 2024, that Mr. Gibson had reaffirmed his "outperform" recommendation for Ensign. It was then worth $2.81. The Globe reported on April 18, 2025, that RBC analyst Keith Mackey was keeping his "outperform" recommendation for Ensign intact. The shares could then be had for $1.87. The Globe reported on Oct. 10, 2025, that RBC Dominion Securities analyst Keith Mackey had lowered his recommendation for Ensign to "sector perform" from "outperform." The shares could then be had for $2.40.