STEP Energy Services Ltd (STEP) Receives C$8.03 Average Target Price from Brokerages

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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.

Shares of TSE:STEP opened at C$2.27 on Tuesday. STEP Energy Services has a 52 week low of C$1.65 and a 52 week high of C$12.99. The company has a debt-to-equity ratio of 59.50, a quick ratio of 1.60 and a current ratio of 1.94.

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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Analyst Recommendations for STEP Energy Services (TSE:STEP)

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