Other analysts have also recently issued reports about the company. National Bank Financial cut STEP Energy Services from an outperform rating to a sector perform rating and decreased their price objective for the stock from C$11.00 to C$6.50 in a research report on Friday. CIBC decreased their price objective on STEP Energy Services from C$12.00 to C$10.00 in a research report on Friday. Royal Bank of Canada decreased their price objective on STEP Energy Services from C$17.00 to C$15.00 and set an outperform rating for the company in a research report on Friday, August 3rd. TD Securities decreased their price objective on STEP Energy Services from C$14.50 to C$13.50 and set a buy rating for the company in a research report on Friday, August 3rd. Finally, Industrial Alliance Securities cut their target price on STEP Energy Services from C$17.25 to C$16.25 in a research note on Friday, August 3rd. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. STEP Energy Services has a consensus rating of Hold and an average target price of C$9.28.
STEP Energy Services stock traded down C$0.48 during mid-day trading on Friday, reaching C$2.85. 1,217,400 shares of the company were exchanged, compared to its average volume of 176,242. STEP Energy Services has a twelve month low of C$2.80 and a twelve month high of C$13.65. The company has a quick ratio of 1.47, a current ratio of 1.77 and a debt-to-equity ratio of 57.81.
About STEP Energy Services
STEP Energy Services Ltd. operates as an oilfield service company that provides fracturing and coiled tubing solutions in Canada and the United States. It applies fit-for-purpose coiled tubing, pumping, and hydraulic fracturing technology to enhance reservoir performance in well stimulation and intervention projects for clients operating in unconventional oil, gas, and liquids rich plays.
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