Source Energy Services (TSE:SHLE) had its price objective reduced by equities research analysts at BMO Capital Markets from C$1.50 to C$1.00 in a research note issued to investors on Friday, BayStreet.CA reports. BMO Capital Markets’ target price indicates a potential upside of 72.41% from the company’s previous close.
Other equities analysts have also recently issued research reports about the stock. TD Securities increased their price objective on shares of Source Energy Services from C$0.50 to C$0.60 and gave the stock a “reduce” rating in a research note on Friday. GMP Securities lowered their price objective on shares of Source Energy Services from C$1.50 to C$1.25 in a research note on Friday, May 3rd. Industrial Alliance Securities cut shares of Source Energy Services from a “speculative buy” rating to a “hold” rating in a research note on Monday, May 6th. Canaccord Genuity downgraded shares of Source Energy Services from a “speculative buy” rating to a “hold” rating and decreased their price target for the stock from C$1.60 to C$1.00 in a research report on Tuesday, July 9th. Finally, Cormark decreased their price target on shares of Source Energy Services from C$8.00 to C$3.00 in a research report on Wednesday, May 8th. Two analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of C$1.95.
Source Energy Services stock traded down C$0.04 during midday trading on Friday, reaching C$0.58. 2,250 shares of the company traded hands, compared to its average volume of 65,460. The stock has a market cap of $39.75 million and a price-to-earnings ratio of -2.71. The company’s 50 day simple moving average is C$0.71. Source Energy Services has a 12 month low of C$0.58 and a 12 month high of C$5.34. The company has a debt-to-equity ratio of 84.29, a current ratio of 1.61 and a quick ratio of 0.87.
About Source Energy Services
Source Energy Services Ltd. produces, supplies, and distributes Northern White frac sand used primarily in oil and gas exploration and production in Western Canada and the United States. It also provides storage and logistics services for other bulk oil and gas well completion materials; and develops wellsite mobile sand storage and handling system.
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