Enservco Corp. (ENSV) provides well enhancement facilities accompanying fluid management to the on-shore oil business. It is engaged in providing oilfield facilities, including hot oiling, acidizing, and frac water heating along with saltwater hauling, fluid disposal system, and well-site construction. It covers seven key domestic oil and gas basins due to its wide-ranging geographic footprint. The company also possesses a fleet of 338 trucks and trailers.
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ENSV stock price on March 21, 2022, regular trading session, surged by 17.7% to be $3.39. Its price soared further as of the writing in the aftermarket session by 34.2%.
ENSV: Key Financials
ENSV issued its financial statement for the third quarter of 2021, on November 15, 2021, for the three months ended September 30, 2020. Some key highlights are discussed here.
Total revenue of $3.02 million was recorded by the company during the third quarter of 2021 corresponding to the same period of 2020 when it was $1.76 million. Its total revenues inclined by $1.26 million year-over-year along with missing the revenue expectation of the analysts by $265 thousand.
Net loss per share (basic and diluted) for the third quarter of fiscal 2021 was $0.17 million or $0.02 versus $8.4 million or $2.15 net earnings during the same period of 2020. Its earnings per share declined significantly YoY along with surpassing the EPS target expectations by $0.07.
ENSV stock is 200% up the past six months as the oil prices hit a record $130 per barrel in approximately a decade. Currently, the company’s stock swelled in the aftermarket session, in the wake of the current Russian invasion of Ukraine, which strapped the oil supply and thus immensely increased the per-barrel oil price. The pressure now lies on the US oil companies to meet the ever-increasing demand for oil and gas and ENSV is one of the best options for the government.