Source Energy Services Ltd (TSE:SHLE) Receives Consensus Recommendation of “Hold” from Brokerages
Source Energy Services Ltd (TSE:SHLE) has been assigned an average rating of “Hold” from the eight brokerages that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating and one has assigned a hold rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is C$1.37.
A number of equities analysts have weighed in on the company. TD Securities boosted their target price on Source Energy Services to C$0.60 and gave the stock a “reduce” rating in a research report on Friday, August 2nd. BMO Capital Markets decreased their target price on Source Energy Services from C$1.50 to C$1.00 in a research report on Friday, August 2nd. Industrial Alliance Securities lowered Source Energy Services from a “speculative buy” rating to a “hold” rating in a research report on Monday, May 6th. Cormark decreased their target price on Source Energy Services from C$8.00 to C$3.00 in a research report on Wednesday, May 8th. Finally, GMP Securities decreased their target price on Source Energy Services from C$1.50 to C$1.25 in a research report on Friday, May 3rd.
Shares of SHLE remained flat at $C$0.55 during trading hours on Wednesday. The stock had a trading volume of 500 shares, compared to its average volume of 63,174. The company’s 50-day moving average is C$0.64 and its two-hundred day moving average is C$1.04. The company has a quick ratio of 0.87, a current ratio of 1.61 and a debt-to-equity ratio of 84.29. The stock has a market capitalization of $34.74 million and a PE ratio of -2.49. Source Energy Services has a 12-month low of C$0.54 and a 12-month high of C$5.13.
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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