STEP Energy Services (TSE:STEP) Price Target Raised to C$5.00 at BMO Capital Markets

STEP Energy Services (TSE:STEP) had its target price lifted by equities researchers at BMO Capital Markets from C$4.75 to C$5.00 in a research note issued on Thursday, BayStreet.CA reports. BMO Capital Markets’ target price would suggest a potential upside of 17.92% from the company’s previous close.

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

STEP Energy Services Stock Performance

STEP stock traded up C$0.25 during midday trading on Thursday, hitting C$4.24. The stock had a trading volume of 318,946 shares, compared to its average volume of 120,738. The firm has a market capitalization of C$304.47 million, a price-to-earnings ratio of 6.28 and a beta of 2.17. The company has a current ratio of 1.37, a quick ratio of 1.11 and a debt-to-equity ratio of 32.47. The stock has a 50-day simple moving average of C$3.93 and a 200 day simple moving average of C$4.06. STEP Energy Services has a 52 week low of C$2.63 and a 52 week high of C$4.82.

Insider Activity at STEP Energy Services

In other STEP Energy Services news, Senior Officer Stephen Murray Glanville bought 14,000 shares of STEP Energy Services stock in a transaction dated Tuesday, March 19th. The stock was bought at an average cost of C$3.59 per share, for a total transaction of C$50,293.60. 0.37% of the stock is currently owned by company insiders.

About STEP Energy Services

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.