STEP Energy Services (TSE:STEP) Shares Down 3.5% - Here's What Happened

Key Points

• STEP Energy Services' shares decreased by 3.5%, trading at C$4.10 after experiencing a drop from C$4.25.
• Royal Bank of Canada raised the company's price target from C$4.25 to C$4.50 and maintained a "sector perform" rating, with an average target price of C$5.04 among analysts.
• Insider selling was reported as Senior Officer Stephen Murray Glanville sold 8,082 shares at an average price of C$3.81, totaling over C$30,000 in transactions.

STEP Energy Services Ltd. (TSE:STEP - Get Free Report)'s share price traded down 3.5% during mid-day trading on Monday . The company traded as low as C$4.10 and last traded at C$4.10. 27,022 shares traded hands during mid-day trading, a decline of 32% from the average session volume of 39,660 shares. The stock had previously closed at C$4.25.

Analyst Upgrades and Downgrades

Separately, Royal Bank Of Canada lifted their price target on shares of STEP Energy Services from C$4.25 to C$4.50 and gave the stock a "sector perform" rating in a research note on Thursday, June 26th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of C$5.04.

STEP Energy Services Price Performance

The company has a current ratio of 1.39, a quick ratio of 1.11 and a debt-to-equity ratio of 22.04. The company has a market cap of C$298.78 million, a price-to-earnings ratio of -15.19 and a beta of 1.93. The company's 50 day moving average price is C$4.39 and its 200 day moving average price is C$4.15.

Insider Buying and Selling at STEP Energy Services

In other news, Senior Officer Stephen Murray Glanville sold 8,082 shares of the company's stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of C$3.81, for a total transaction of C$30,815.05. Over the last 90 days, insiders have sold 21,575 shares of company stock worth $82,261. Corporate insiders own 0.50% of the company's stock.

STEP Energy Services Company Profile

STEP Energy Services is an energy services company that provides coiled tubing, fluid and nitrogen pumping and hydraulic fracturing solutions. Our combination of modern equipment along with our commitment to safety and quality execution has differentiated STEP in plays where wells are deeper, have longer laterals and higher pressures.

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