STEP Energy Services (STEP) Trading Up 7.9%

STEP Energy Services Ltd (TSE:STEP) shares were up 7.9% during trading on Monday . The stock traded as high as C$2.97 and last traded at C$2.86. Approximately 164,538 shares changed hands during mid-day trading, a decline of 8% from the average daily volume of 178,837 shares. The stock had previously closed at C$2.65.

Several research analysts have recently commented on STEP shares. Raymond James lowered STEP Energy Services from a “strong-buy” rating to an “outperform” rating and reduced their price target for the stock from C$18.00 to C$15.00 in a research report on Friday, September 21st. Industrial Alliance Securities reduced their target price on STEP Energy Services from C$16.25 to C$11.00 in a research report on Tuesday, October 9th. National Bank Financial reduced their target price on STEP Energy Services from C$15.50 to C$12.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 26th. CIBC reduced their target price on STEP Energy Services from C$12.00 to C$10.00 in a research report on Friday, November 9th. Finally, BMO Capital Markets lowered STEP Energy Services from an “outperform” rating to a “market perform” rating and reduced their target price for the company from C$12.00 to C$4.25 in a research report on Friday, November 9th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of C$9.28.

The company has a current ratio of 1.94, a quick ratio of 1.60 and a debt-to-equity ratio of 59.50.

In other news, insider Michael Grant Kelly acquired 25,600 shares of the business’s stock in a transaction dated Friday, November 16th. The shares were acquired at an average cost of C$2.60 per share, with a total value of C$66,560.00. Also, insider Robert W. Sprinkhuysen acquired 10,000 shares of the business’s stock in a transaction dated Wednesday, November 14th. The stock was purchased at an average cost of C$2.70 per share, for a total transaction of C$27,000.00.

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About STEP Energy Services (TSE:STEP)

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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