Insider Buying: STEP Energy Services Ltd (STEP) Insider Buys 25,600 Shares of Stock
STEP Energy Services Ltd (TSE:STEP) insider Michael Grant Kelly bought 25,600 shares of the business’s stock in a transaction on Friday, November 16th. The shares were bought at an average price of C$2.60 per share, for a total transaction of C$66,560.00.
TSE STEP traded down C$0.13 during trading on Friday, hitting C$2.81. 214,985 shares of the company traded hands, compared to its average volume of 179,847. STEP Energy Services Ltd has a 12 month low of C$2.50 and a 12 month 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.
Several equities analysts have weighed in on STEP shares. Raymond James lowered STEP Energy Services from a “strong-buy” rating to an “outperform” rating and cut their target price for the company from C$18.00 to C$15.00 in a report on Friday, September 21st. Industrial Alliance Securities cut their target price on STEP Energy Services from C$16.25 to C$11.00 in a report on Tuesday, October 9th. National Bank Financial cut their target price on STEP Energy Services from C$15.50 to C$12.00 and set an “outperform” rating on the stock in a report on Wednesday, September 26th. CIBC cut their target price on STEP Energy Services from C$12.00 to C$10.00 in a report on Friday, November 9th. Finally, BMO Capital Markets lowered STEP Energy Services from an “outperform” rating to a “market perform” rating and cut their target price for the company from C$12.00 to C$4.25 in a report on Friday, November 9th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of C$9.28.
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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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