CES Energy Solutions (TSE:CEU) Shares Pass Below 200-Day Moving Average - What's Next?

CES Energy Solutions Corp. (TSE:CEU - Get Free Report) shares passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$8.34 and traded as low as C$6.12. CES Energy Solutions shares last traded at C$6.14, with a volume of 390,486 shares trading hands.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CEU. BMO Capital Markets dropped their price target on CES Energy Solutions from C$10.00 to C$9.00 in a research note on Thursday, April 17th. Royal Bank of Canada decreased their price objective on shares of CES Energy Solutions from C$11.00 to C$10.00 and set an "outperform" rating on the stock in a research report on Thursday, April 17th. Atb Cap Markets raised CES Energy Solutions from a "hold" rating to a "strong-buy" rating in a research note on Friday, March 7th. TD Securities cut their price target on shares of CES Energy Solutions from C$11.00 to C$9.00 and set a "buy" rating on the stock in a report on Wednesday, April 16th. Finally, ATB Capital upgraded shares of CES Energy Solutions from a "sector perform" rating to an "outperform" rating and set a C$11.00 price objective for the company in a report on Friday, March 7th. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, CES Energy Solutions currently has a consensus rating of "Buy" and a consensus target price of C$10.03.

CES Energy Solutions Stock Performance

The company has a current ratio of 2.82, a quick ratio of 1.78 and a debt-to-equity ratio of 57.26. The business's 50 day moving average is C$6.93 and its two-hundred day moving average is C$8.31. The company has a market cap of C$1.36 billion, a PE ratio of 7.07, a PEG ratio of 0.61 and a beta of 2.31.

CES Energy Solutions Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Tuesday, April 15th were paid a dividend of $0.0425 per share. The ex-dividend date of this dividend was Monday, March 31st. This is a positive change from CES Energy Solutions's previous quarterly dividend of $0.03. This represents a $0.17 dividend on an annualized basis and a yield of 2.81%. CES Energy Solutions's dividend payout ratio is presently 14.01%.

Insiders Place Their Bets

In other news, Senior Officer Kenneth Earl Zinger acquired 10,000 shares of the business's stock in a transaction dated Friday, April 4th. The shares were purchased at an average price of C$6.06 per share, with a total value of C$60,600.00. Also, Senior Officer Anthony Michael Aulicino sold 50,563 shares of CES Energy Solutions stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of C$7.23, for a total transaction of C$365,570.49. 3.03% of the stock is owned by insiders.

About CES Energy Solutions

CES Energy Solutions Corp provides consumable chemical solutions throughout the lifecycle of the oilfield. This includes solutions at drill-bit, at point of completion and stimulation, at wellhead and pump-jack, and to the pipeline and midstream market. Its geographical segments are the United States and Canada, of which the majority of its revenue comes from the United States.