CES Energy Solutions (TSE:CEU) Stock Price Crosses Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• CES Energy Solutions shares rose above their 200-day moving average, trading as high as C$17.59 before last changing hands at C$17.13. The stock’s 200-day average was C$16.65.
• Analyst sentiment remains mixed but generally positive, with Royal Bank of Canada and BMO Capital Markets both raising price targets to C$22 and assigning outperform ratings. The stock currently has a consensus rating of “Moderate Buy” and an average target price of C$18.94.
• Recent financial results and insider selling were notable: CES reported C$0.24 EPS on revenue of C$681.51 million in its latest quarter, while insiders sold shares totaling about C$3.68 million in the last quarter.

Shares of CES Energy Solutions Corp. (TSE:CEU - Get Free Report) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$16.65 and traded as high as C$17.59. CES Energy Solutions shares last traded at C$17.13, with a volume of 438,402 shares trading hands.

Analyst Ratings Changes

A number of analysts have recently weighed in on CEU shares. Royal Bank Of Canada increased their price objective on shares of CES Energy Solutions from C$20.00 to C$22.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 14th. TD decreased their target price on shares of CES Energy Solutions from C$19.00 to C$18.00 and set a "hold" rating for the company in a research report on Monday, July 13th. National Bank Financial lowered shares of CES Energy Solutions from an "outperform" rating to a "sector perform" rating and set a C$20.00 price target on the stock. in a report on Wednesday, May 13th. Finally, BMO Capital Markets raised CES Energy Solutions from a "market perform" rating to an "outperform" rating and increased their price target for the stock from C$21.00 to C$22.00 in a research report on Wednesday, June 24th. Four equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of C$18.94.

CES Energy Solutions Trading Down 0.8%

The company's 50-day moving average price is C$16.94 and its 200-day moving average price is C$16.65. The firm has a market cap of C$3.61 billion, a price-to-earnings ratio of 17.66, a price-to-earnings-growth ratio of 0.61 and a beta of 0.51. The company has a quick ratio of 1.78, a current ratio of 2.75 and a debt-to-equity ratio of 55.71.

CES Energy Solutions (TSE:CEU - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported C$0.24 earnings per share for the quarter. The firm had revenue of C$681.51 million during the quarter. CES Energy Solutions had a net margin of 8.29% and a return on equity of 26.01%. Equities analysts expect that CES Energy Solutions Corp. will post 0.8600646 EPS for the current fiscal year.

Insider Activity at CES Energy Solutions

In other news, insider Mihir Patel sold 12,184 shares of the firm's stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of C$16.04, for a total value of C$195,431.36. Following the transaction, the insider owned 16,571 shares in the company, valued at C$265,798.84. This trade represents a 42.37% decrease in their ownership of the stock. Also, insider Matthew Stephen Bell sold 26,840 shares of CES Energy Solutions stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of C$16.04, for a total value of C$430,513.60. Following the completion of the sale, the insider directly owned 17,000 shares in the company, valued at C$272,680. This represents a 61.22% decrease in their ownership of the stock. Insiders sold 205,683 shares of company stock worth $3,684,499 in the last quarter. Corporate insiders own 3.03% of the company's stock.

About CES Energy Solutions

CES is a leading provider of technically advanced consumable chemical solutions throughout the lifecycle of the oilfield. This includes solutions at the drill-bit, at the point of completion and stimulation, at the wellhead and pump-jack, and finally through to the pipeline and midstream market. CES' business model is relatively asset light and requires limited re-investment capital to grow. As a result, CES has been able to capitalize on the growing market demand for drilling fluids and production and specialty chemicals in North America while generating free cash flow.

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