STEP Energy Services (TSE:STEP) Price Target Cut to C$3.25 by Analysts at National Bank Financial

STEP Energy Services (TSE:STEP) had its price target cut by National Bank Financial from C$3.75 to C$3.25 in a research note published on Friday, BayStreet.CA reports. They currently have an outperform rating on the stock.

A number of other research firms have also recently issued reports on STEP. Raymond James restated a strong-buy rating and set a C$6.00 price objective on shares of STEP Energy Services in a report on Thursday, May 9th. BMO Capital Markets dropped their price objective on STEP Energy Services from C$2.50 to C$2.00 in a report on Friday. Royal Bank of Canada reaffirmed a sector perform rating and set a C$2.75 target price on shares of STEP Energy Services in a research report on Wednesday, July 3rd. Finally, Cormark lifted their target price on STEP Energy Services from C$4.00 to C$4.50 in a research report on Friday. Four research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. STEP Energy Services presently has a consensus rating of Buy and an average target price of C$4.75.

STEP traded down C$0.05 during trading hours on Friday, reaching C$1.50. 108,000 shares of the company’s stock traded hands, compared to its average volume of 187,846. The company’s 50-day moving average price is C$1.80. STEP Energy Services has a 52-week low of C$1.34 and a 52-week high of C$8.48. The company has a debt-to-equity ratio of 58.34, a current ratio of 1.80 and a quick ratio of 1.44. The firm has a market capitalization of $100.05 million and a price-to-earnings ratio of -1.71.

STEP Energy Services Company Profile

STEP Energy Services Ltd., an oilfield service company, provides integrated coiled tubing and fracturing solutions to service oil and natural gas wells in Canada and the United States. The company 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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Analyst Recommendations for STEP Energy Services (TSE:STEP)

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