STEP Energy Services (TSE:STEP) Shares Up 27.2% - What's Next?

Key Points

• STEP Energy Services shares surged by 27.2% during trading, reaching a high of C$5.48 and closing at C$5.42, with a significant increase in trading volume.
• 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 stock has an average rating of "Moderate Buy" with a consensus price target of C$5.04.
• The company operates in the energy services sector providing coiled tubing, fluid and nitrogen pumping, and hydraulic fracturing solutions, leveraging modern equipment for deeper and more complex wells.

STEP Energy Services Ltd. (TSE:STEP - Get Free Report) shares were up 27.2% during trading on Thursday . The company traded as high as C$5.48 and last traded at C$5.42. Approximately 415,640 shares traded hands during trading, an increase of 948% from the average daily volume of 39,648 shares. The stock had previously closed at C$4.26.

Analysts Set New Price Targets

Separately, Royal Bank Of Canada increased 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 research note on Thursday, June 26th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of C$5.04.

STEP Energy Services Trading Up 27.2%

The business has a fifty day moving average price of C$4.33 and a 200 day moving average price of C$4.15. The company has a market capitalization of C$394.98 million, a PE ratio of -20.07 and a beta of 1.93. The company has a debt-to-equity ratio of 22.04, a quick ratio of 1.11 and a current ratio of 1.39.

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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