CES Energy Solutions (CEU) Sets New 12-Month Low After Insider Selling

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CES Energy Solutions Corp (TSE:CEU) shares reached a new 52-week low during trading on Tuesday following insider selling activity. The stock traded as low as C$3.66 and last traded at C$3.74, with a volume of 197275 shares. The stock had previously closed at C$3.71.

Specifically, insider Craig Frederick Nieboer sold 50,000 shares of the business’s stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of C$4.47, for a total transaction of C$223,500.00. Also, insider Jason Douglas Waugh sold 26,000 shares of the business’s stock in a transaction on Monday, October 15th. The stock was sold at an average price of C$3.92, for a total value of C$101,920.00. Insiders have sold a total of 125,651 shares of company stock valued at $540,613 in the last 90 days.

A number of research analysts have issued reports on CEU shares. Canaccord Genuity reduced their price target on CES Energy Solutions from C$8.00 to C$7.25 in a research report on Tuesday, July 10th. BMO Capital Markets reduced their price target on CES Energy Solutions from C$9.00 to C$8.00 in a research report on Monday, August 13th. National Bank Financial reduced their price target on CES Energy Solutions from C$8.20 to C$7.00 and set an “outperform” rating for the company in a research report on Friday, August 10th. Finally, Raymond James reduced their price target on CES Energy Solutions from C$7.50 to C$7.00 and set a “strong-buy” rating for the company in a research report on Monday, September 24th. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of C$7.81.

CES Energy Solutions (TSE:CEU) last announced its quarterly earnings results on Thursday, August 9th. The company reported C$0.05 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of C$0.02 by C$0.03. The company had revenue of C$284.32 million during the quarter, compared to analyst estimates of C$269.18 million. CES Energy Solutions had a return on equity of 13.37% and a net margin of 7.45%.

The company also recently disclosed a monthly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Thursday, November 15th will be issued a $0.005 dividend. The ex-dividend date is Tuesday, October 30th. This represents a $0.06 annualized dividend and a dividend yield of 1.63%.

About CES Energy Solutions (TSE:CEU)

CES Energy Solutions Corp., together with its subsidiaries, provides consumable chemical solutions throughout the life-cycle of the oilfield. The company provides solutions at the drill-bit, at the point of completion and stimulation, at the wellhead and pump-jack, and through to the pipeline and midstream market.

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