CES Energy Solutions (TSE:CEU) Hits New 12-Month High - Here's Why

Key Points

• CES Energy Solutions shares reached a new 52-week high of C$20.38 before last trading at C$19.07, with more than 1.2 million shares changing hands.
• Analyst sentiment is broadly positive: six analysts rate the stock Buy, two rate it Hold, and the consensus view is “Moderate Buy” with a C$19.72 target price. Raymond James raised its target to C$25.00, while Scotia and BMO set targets of C$22.00.
• The company has a C$4.00 billion market capitalization and provides specialized chemical solutions across the oilfield lifecycle. Recent insider activity was mixed, with one insider buying 10,000 shares while another sold 12,184 shares.

Shares of CES Energy Solutions Corp. (TSE:CEU - Get Free Report) hit a new 52-week high during trading on Tuesday . The stock traded as high as C$20.38 and last traded at C$19.07, with a volume of 1215256 shares. The stock had previously closed at C$20.09.

Wall Street Analysts Forecast Growth

CEU has been the subject of several research reports. Raymond James Financial increased their price objective on shares of CES Energy Solutions from C$23.00 to C$25.00 and gave the company an "outperform" rating in a research report on Monday, August 10th. Scotia upped their price objective on CES Energy Solutions from C$21.00 to C$22.00 and gave the company a "sector outperform" rating in a research report on Monday, August 10th. BMO Capital Markets raised shares of CES Energy Solutions from a "market perform" rating to an "outperform" rating and raised their target price for the stock from C$21.00 to C$22.00 in a research report on Wednesday, June 24th. TD decreased their price objective 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. Finally, 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 report on Friday, August 7th. Six investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of C$19.72.

CES Energy Solutions Stock Performance

The company has a debt-to-equity ratio of 55.36, a quick ratio of 1.78 and a current ratio of 2.70. The firm has a market capitalization of C$4.00 billion, a price-to-earnings ratio of 20.73, a PEG ratio of 0.61 and a beta of 0.81. The firm's 50 day simple moving average is C$17.85 and its 200 day simple moving average is C$17.70.

Insider Buying and Selling at CES Energy Solutions

In other CES Energy Solutions news, insider Mihir Patel sold 12,184 shares of the firm's stock in a transaction 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 approximately C$265,798.84. This trade represents a 42.37% decrease in their position. Also, insider Kenneth Earl Zinger bought 10,000 shares of the firm's stock in a transaction on Monday, June 22nd. The stock was acquired at an average cost of C$15.00 per share, for a total transaction of C$150,000.00. Following the completion of the purchase, the insider directly owned 1,682,857 shares in the company, valued at approximately C$25,242,855. This represents a 0.60% increase in their ownership of the stock. Over the last quarter, insiders sold 238,223 shares of company stock worth $4,319,581. 3.03% of the stock is currently owned by corporate insiders.

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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