ATB Cormark Capital Markets Issues Positive Forecast for Total Energy Services (TSE:TOT) Stock Price

Key Points

• ATB Cormark Capital Markets raised its price target on Total Energy Services from C$32.00 to C$33.00 and kept an outperform rating, implying about 44.8% upside from the current price.
• The stock was trading down slightly at C$22.79, even as the company reported solid recent results including C$0.65 EPS and C$314.9 million in quarterly revenue.
• Insider buying was notable, with company insiders purchasing 326,374 shares worth about $7.8 million over the last quarter, suggesting confidence in the business.

Total Energy Services (TSE:TOT - Get Free Report) had its target price raised by research analysts at ATB Cormark Capital Markets from C$32.00 to C$33.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. The brokerage presently has an "outperform" rating on the stock. ATB Cormark Capital Markets' price objective indicates a potential upside of 44.80% from the stock's current price.

Total Energy Services Trading Down 0.5%

Total Energy Services stock traded down C$0.11 during mid-day trading on Friday, reaching C$22.79. 18,203 shares of the company traded hands, compared to its average volume of 107,544. The company has a debt-to-equity ratio of 11.42, a current ratio of 1.35 and a quick ratio of 1.09. The firm's 50 day moving average price is C$23.86 and its 200 day moving average price is C$20.52. The firm has a market capitalization of C$835.60 million, a price-to-earnings ratio of 10.80, a P/E/G ratio of 1.77 and a beta of 0.76. Total Energy Services has a 52-week low of C$10.51 and a 52-week high of C$27.58.

Total Energy Services (TSE:TOT - Get Free Report) last posted its earnings results on Tuesday, May 12th. The company reported C$0.65 EPS for the quarter. The firm had revenue of C$314.90 million during the quarter. Total Energy Services had a net margin of 7.04% and a return on equity of 13.24%. On average, analysts anticipate that Total Energy Services will post 2.0517598 earnings per share for the current fiscal year.

Insider Transactions at Total Energy Services

In other news, insider Total Energy Services Inc bought 314,804 shares of Total Energy Services stock in a transaction on Tuesday, June 30th. The shares were purchased at an average price of C$24.01 per share, for a total transaction of C$7,558,444.04. Following the acquisition, the insider owned 326,814 shares of the company's stock, valued at approximately C$7,846,804.14. The trade was a 2,621.18% increase in their ownership of the stock. Also, Director Daniel Kim Halyk bought 5,000 shares of the firm's stock in a transaction dated Monday, May 25th. The stock was purchased at an average cost of C$25.59 per share, with a total value of C$127,950.00. Following the transaction, the director directly owned 2,245,000 shares in the company, valued at approximately C$57,449,550. This represents a 0.22% increase in their position. Insiders have bought a total of 326,374 shares of company stock worth $7,831,060 over the last quarter. Insiders own 7.73% of the company's stock.

About Total Energy Services

Total Energy Services Inc is an energy services company. The operating segments of the company are Contract Drilling Services, Rentals & Transportation Services, Compression & Process Service, Well servicing, and Corporate. The company's operations are conducted in Canada, the United States of America, and Australia.

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