STEP Energy Services (TSE:STEP) Shares Up 1.1% - Time to Buy?

Key Points

• STEP Energy Services' stock increased by 1.1%, trading at C$5.44 with a significant trading volume surge of 136% compared to the average.
• The **Royal Bank of Canada** raised its price target for STEP from C$4.25 to C$4.50, maintaining a "sector perform" rating, while the overall consensus rating is "Moderate Buy" with a target of C$5.00.
• STEP Energy Services focuses on providing **coiled tubing, fluid and nitrogen pumping, and hydraulic fracturing** solutions, aimed at addressing the needs of deeper well developments.

STEP Energy Services Ltd. (TSE:STEP - Get Free Report)'s stock price shot up 1.1% on Monday . The stock traded as high as C$5.46 and last traded at C$5.44. 94,960 shares were traded during mid-day trading, an increase of 136% from the average session volume of 40,282 shares. The stock had previously closed at C$5.38.

Analysts Set New Price Targets

Separately, Royal Bank Of Canada raised their price objective on STEP Energy Services from C$4.25 to C$4.50 and gave the company a "sector perform" rating in a report on Thursday, June 26th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, STEP Energy Services presently has a consensus rating of "Moderate Buy" and a consensus price target of C$5.00.

STEP Energy Services Trading Up 1.1%

The company has a market capitalization of C$396.43 million, a PE ratio of -20.15 and a beta of 1.79. 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 stock has a fifty day moving average of C$4.67 and a two-hundred day moving average of C$4.29.

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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