STEP Energy Services (TSE:STEP) Stock Price Down 1.2% - Here's Why

Key Points

• STEP Energy Services shares declined by 1.2% to C$4.25, with trading volume down by 32% from its average.
• Royal Bank of Canada raised the target price for STEP Energy Services from C$4.25 to C$4.50, maintaining a "sector perform" rating.
• Insider activity revealed a significant sale of 8,082 shares by a senior officer, while another senior officer purchased 8,300 shares at an average price of C$3.90.

Shares of STEP Energy Services Ltd. (TSE:STEP - Get Free Report) fell 1.2% on Friday . The stock traded as low as C$4.25 and last traded at C$4.25. 28,955 shares traded hands during trading, a decline of 32% from the average session volume of 42,846 shares. The stock had previously closed at C$4.30.

Analysts Set New Price Targets

Separately, Royal Bank Of Canada boosted their target price on shares of STEP Energy Services from C$4.25 to C$4.50 and gave the stock a "sector perform" rating in a report on Thursday, June 26th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of C$5.04.

STEP Energy Services Stock Down 0.2%

The stock has a 50-day moving average of C$4.30 and a 200-day moving average of C$4.17. The company has a quick ratio of 1.11, a current ratio of 1.39 and a debt-to-equity ratio of 22.04. The company has a market cap of C$305.54 million, a PE ratio of 7.39 and a beta of 2.07.

Insider Buying and Selling at STEP Energy Services

In other news, Senior Officer Stephen Murray Glanville sold 8,082 shares of the firm's stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of C$3.81, for a total value of C$30,815.05. Also, Director Edward David Lafehr purchased 25,000 shares of the firm's stock in a transaction on Thursday, May 22nd. The stock was bought at an average price of C$3.90 per share, for a total transaction of C$97,500.00. Over the last quarter, insiders sold 33,216 shares of company stock valued at $126,562. Corporate insiders own 0.50% of the company's stock.

About STEP Energy Services

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.