Shares of STEP Energy Services Ltd (TSE:STEP) have been assigned a consensus rating of “Buy” from the nine analysts that are presently covering the firm, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation, one has given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is C$8.06.
A number of brokerages have recently commented on STEP. GMP Securities reissued an “average” rating and set a C$5.75 price objective on shares of STEP Energy Services in a report on Tuesday, January 8th. National Bank Financial lowered STEP Energy Services from an “outperform” rating to a “sector perform” rating and lowered their target price for the company from C$11.00 to C$6.50 in a report on Friday, November 9th. Raymond James lowered their target price on STEP Energy Services from C$15.00 to C$7.75 and set an “outperform” rating on the stock in a report on Monday, December 10th. CIBC lowered their target price on STEP Energy Services from C$12.00 to C$10.00 in a report on Friday, November 9th. Finally, Cormark lowered their target price on STEP Energy Services from C$11.00 to C$9.00 in a report on Tuesday, December 11th.
In other news, insider Michael Grant Kelly acquired 25,600 shares of STEP Energy Services stock in a transaction on Friday, November 16th. The stock was bought at an average price of C$2.60 per share, for a total transaction of C$66,560.00. Also, insider Robert W. Sprinkhuysen acquired 10,000 shares of STEP Energy Services stock in a transaction on Wednesday, November 14th. The stock was purchased at an average price of C$2.70 per share, with a total value of C$27,000.00.
Shares of TSE STEP traded up C$0.08 during mid-day trading on Friday, reaching C$2.00. 268,600 shares of the company traded hands, compared to its average volume of 238,925. The company has a debt-to-equity ratio of 59.50, a quick ratio of 1.60 and a current ratio of 1.94. The firm has a market cap of $133.37 million and a price-to-earnings ratio of 3.51. STEP Energy Services has a fifty-two week low of C$1.65 and a fifty-two week high of C$12.99.
About STEP Energy Services
STEP Energy Services Ltd. operates as an oilfield service company that provides fracturing and coiled tubing solutions in Canada and the United States. It applies fit-for-purpose coiled tubing, pumping, and hydraulic fracturing technology to enhance reservoir performance in well stimulation and intervention projects for clients operating in unconventional oil, gas, and liquids rich plays.
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