CES Energy Solutions (TSE:CEU) Director Sells C$1,503,170.00 in Stock

Key Points

• Director John Michael Hooks sold 78,700 shares of CES Energy Solutions at an average C$19.10, generating C$1.50 million and reducing his position by 9.09% to 787,351 shares.
• Hooks also sold 87,640 shares earlier in the week for C$1.66 million, indicating substantial recent insider selling.
• Analyst sentiment remains favorable: CES has a “Moderate Buy” consensus rating from six Buy and two Hold ratings, with a consensus price target of C$19.72.

CES Energy Solutions Corp. (TSE:CEU - Get Free Report) Director John Michael Hooks sold 78,700 shares of CES Energy Solutions stock in a transaction on Thursday, September 10th. The stock was sold at an average price of C$19.10, for a total transaction of C$1,503,170.00. Following the sale, the director owned 787,351 shares in the company, valued at C$15,038,404.10. This represents a 9.09% decrease in their position.

John Michael Hooks also recently made the following trade(s):

• On Tuesday, September 8th, John Michael Hooks sold 87,640 shares of CES Energy Solutions stock. The shares were sold at an average price of C$18.98, for a total transaction of C$1,663,407.20.

CES Energy Solutions Price Performance

Shares of CEU stock traded up C$0.66 during mid-day trading on Friday, reaching C$19.96. The company's stock had a trading volume of 332,395 shares, compared to its average volume of 754,708. The firm's 50-day moving average is C$17.72 and its two-hundred day moving average is C$17.65. The company has a market cap of C$4.19 billion, a P/E ratio of 21.70, a PEG ratio of 0.61 and a beta of 0.81. CES Energy Solutions Corp. has a 1-year low of C$8.52 and a 1-year high of C$19.96. The company has a debt-to-equity ratio of 55.36, a quick ratio of 1.78 and a current ratio of 2.70.

Analysts Set New Price Targets

Several brokerages have recently commented on CEU. Scotia boosted their target price on shares of CES Energy Solutions from C$21.00 to C$22.00 and gave the company a "sector outperform" rating in a research note on Monday, August 10th. Raymond James Financial increased their price target on CES Energy Solutions from C$23.00 to C$25.00 and gave the stock an "outperform" rating in a research report on Monday, August 10th. BMO Capital Markets raised CES Energy Solutions from a "market perform" rating to an "outperform" rating and boosted their price objective for the stock from C$21.00 to C$22.00 in a research note on Wednesday, June 24th. National Bank Financial upgraded CES Energy Solutions from a "hold" rating to an "outperform" rating and set a C$20.00 target price for the company in a research note on Friday, August 7th. Finally, TD cut their price target on CES Energy Solutions from C$19.00 to C$18.00 and set a "hold" rating for the company in a report on Monday, July 13th. Six analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, CES Energy Solutions presently has a consensus rating of "Moderate Buy" and a consensus price target of C$19.72.

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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