Shares of STEP Energy Services Ltd (TSE:STEP) have earned an average recommendation of “Hold” from the nine analysts that are covering the stock, MarketBeat reports. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is C$8.03.
Several equities research analysts have commented on the stock. GMP Securities restated an “average” rating and issued a C$5.75 price target on shares of STEP Energy Services in a research note on Tuesday. Raymond James dropped their price target on shares of STEP Energy Services from C$15.00 to C$7.75 and set an “outperform” rating on the stock in a research note on Monday, December 10th. National Bank Financial lowered shares of STEP Energy Services from an “outperform” rating to a “sector perform” rating and lowered their price objective for the company from C$11.00 to C$6.50 in a research note on Friday, November 9th. CIBC lowered their price objective on shares of STEP Energy Services from C$12.00 to C$10.00 in a research note on Friday, November 9th. Finally, Cormark lowered their price objective on shares of STEP Energy Services from C$11.00 to C$9.00 in a research note on Tuesday, December 11th.
In other STEP Energy Services news, insider Robert W. Sprinkhuysen purchased 10,000 shares of the firm’s stock in a transaction on Wednesday, November 14th. The shares were purchased at an average price of C$2.70 per share, for a total transaction of C$27,000.00. Also, insider Michael Grant Kelly purchased 25,600 shares of the firm’s stock in a transaction on Friday, November 16th. The stock was acquired at an average price of C$2.60 per share, for a total transaction of C$66,560.00.
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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