STEP Energy Services (TSE:STEP) Upgraded by Cormark to “Buy” Rating

Cormark upgraded shares of STEP Energy Services (TSE:STEP) from a tender rating to a buy rating in a report released on Monday,BayStreet.CA reports. Cormark currently has C$5.50 price target on the stock, up from their prior price target of C$5.00.

A number of other analysts have also recently issued reports on the company. Acumen Capital set a C$5.25 price objective on STEP Energy Services in a report on Friday, October 11th. Raymond James lowered their price target on shares of STEP Energy Services from C$6.25 to C$6.00 and set an “outperform” rating on the stock in a report on Friday, December 20th. BMO Capital Markets raised their price objective on shares of STEP Energy Services from C$4.50 to C$5.00 in a research report on Tuesday, November 5th. Finally, ATB Capital decreased their target price on shares of STEP Energy Services from C$5.50 to C$5.00 and set an “outperform” rating on the stock in a report on Monday, December 23rd. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, STEP Energy Services currently has a consensus rating of “Moderate Buy” and a consensus price target of C$5.21.

STEP Energy Services Trading Down 3.1 %

TSE:STEP opened at C$4.39 on Monday. STEP Energy Services has a 1 year low of C$3.37 and a 1 year high of C$5.26. The stock’s fifty day moving average price is C$4.70 and its two-hundred day moving average price is C$4.24. The company has a debt-to-equity ratio of 25.45, a current ratio of 1.47 and a quick ratio of 1.11. The company has a market cap of C$314.68 million, a P/E ratio of 4.88 and a beta of 2.07.

Insider Buying and Selling

In other STEP Energy Services news, Senior Officer Bradley James Mcfarlane sold 18,001 shares of the firm’s stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of C$4.20, for a total transaction of C$75,604.20. 0.50% of the stock is 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.