STEP Energy Services (TSE:STEP) Upgraded to Buy at Cormark

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

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

STEP Energy Services Stock Performance

Shares of STEP Energy Services stock opened at C$4.36 on Monday. The company has a debt-to-equity ratio of 25.45, a quick ratio of 1.11 and a current ratio of 1.47. The company has a fifty day moving average of C$4.68 and a 200 day moving average of C$4.24. The company has a market capitalization of C$312.52 million, a P/E ratio of 4.84 and a beta of 2.07. STEP Energy Services has a fifty-two week low of C$3.37 and a fifty-two week high of C$5.26.

Insider Activity

In related news, Senior Officer Bradley James Mcfarlane sold 18,001 shares of the stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of C$4.20, for a total value of C$75,604.20. Company insiders own 0.50% of the company’s stock.

STEP Energy Services Company Profile

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.