STEP Energy Services (TSE:STEP) Trading 8.3% Higher Following Analyst Upgrade

STEP Energy Services Ltd. (TSE:STEP) shares shot up 8.3% on Thursday after BMO Capital Markets raised their price target on the stock from C$4.75 to C$5.00. The stock traded as high as C$4.40 and last traded at C$4.32. 111,958 shares traded hands during trading, a decline of 5% from the average session volume of 117,968 shares. The stock had previously closed at C$3.99.

A number of other analysts have also recently commented on the company. Stifel Nicolaus cut STEP Energy Services from a “buy” rating to a “hold” rating and reduced their price target for the stock from C$6.00 to C$4.50 in a research report on Wednesday, March 13th. ATB Capital lowered their price target on shares of STEP Energy Services from C$7.00 to C$6.50 in a report on Monday, April 8th. Royal Bank of Canada reduced their price objective on shares of STEP Energy Services from C$5.50 to C$4.75 and set a “sector perform” rating for the company in a research note on Wednesday, March 13th. Finally, Raymond James lowered their target price on shares of STEP Energy Services from C$6.25 to C$5.50 and set an “outperform” rating on the stock in a research note on Wednesday, March 13th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of C$5.46.

Insider Activity

In other STEP Energy Services news, Senior Officer Stephen Murray Glanville acquired 14,000 shares of the company’s stock in a transaction on Tuesday, March 19th. The stock was acquired at an average cost of C$3.59 per share, with a total value of C$50,293.60. Company insiders own 0.37% of the company’s stock.

STEP Energy Services Stock Up 5.5 %

The business has a fifty day moving average of C$3.93 and a 200-day moving average of C$4.06. The company has a debt-to-equity ratio of 32.47, a current ratio of 1.37 and a quick ratio of 1.11. The stock has a market cap of C$302.32 million, a PE ratio of 6.33 and a beta of 2.17.

STEP Energy Services Company Profile

STEP Energy Services Ltd., an energy services company, provides integrated coiled tubing, fluid and nitrogen pumping, and hydraulic fracturing to service oil and natural gas industry in Canada and the United States. It also provides fluid pumping services for coiled tubing operations and involved in standalone projects; pipeline commissioning and maintenance services; fracturing logistics services; and laboratory services.