Source Energy Services (TSE:SHLE) Reaches New 12-Month High Following Analyst Upgrade

Source Energy Services Ltd. (TSE:SHLE) shares reached a new 52-week high during trading on Tuesday after BMO Capital Markets raised their price target on the stock from C$16.00 to C$18.00. The stock traded as high as C$15.79 and last traded at C$15.52, with a volume of 38520 shares traded. The stock had previously closed at C$14.45.

Separately, Acumen Capital upped their target price on Source Energy Services from C$15.00 to C$15.50 in a research note on Thursday, March 14th.

Insider Buying and Selling

In related news, Senior Officer Derren James Newell sold 11,500 shares of the stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of C$9.96, for a total value of C$114,540.00. 11.09% of the stock is currently owned by company insiders.

Source Energy Services Stock Performance

The company has a debt-to-equity ratio of 131.13, a current ratio of 1.26 and a quick ratio of 0.22. The company has a market capitalization of C$210.30 million, a price-to-earnings ratio of 1.30 and a beta of 2.96. The stock has a 50 day simple moving average of C$11.14 and a two-hundred day simple moving average of C$8.35.

About Source Energy Services

Source Energy Services Ltd. engages in the production and distribution of Northern White frac sand used primarily in oil and gas exploration and production in Canada and the United States. It also provides storage and logistics services for other bulk oil and gas well completion materials; and develops Sahara, a wellsite mobile sand storage and handling system.