STEP Energy Services (TSE:STEP) Shares Up 8.3% on Analyst Upgrade

STEP Energy Services Ltd. (TSE:STEP)’s share price traded up 8.3% during mid-day trading 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 changed 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.

Several other research firms also recently issued reports on STEP. Stifel Nicolaus downgraded shares of STEP Energy Services from a “buy” rating to a “hold” rating and dropped their price target for the stock from C$6.00 to C$4.50 in a research note on Wednesday, March 13th. Royal Bank of Canada reduced their target price on 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. ATB Capital cut their price target on shares of STEP Energy Services from C$7.00 to C$6.50 in a report on Monday, April 8th. Finally, 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 note on Wednesday, March 13th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of C$5.46.

Insider Activity

In other STEP Energy Services news, Senior Officer Stephen Murray Glanville purchased 14,000 shares of the firm’s stock in a transaction on Tuesday, March 19th. The shares were purchased at an average price of C$3.59 per share, for a total transaction of C$50,293.60. Corporate insiders own 0.37% of the company’s stock.

STEP Energy Services Trading Up 5.5 %

The business has a 50-day moving average of C$3.93 and a 200-day moving average of C$4.06. The company has a quick ratio of 1.11, a current ratio of 1.37 and a debt-to-equity ratio of 32.47. The stock has a market cap of C$302.32 million, a price-to-earnings ratio of 6.33 and a beta of 2.17.

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.