STEP Energy Services (TSE:STEP) Stock Price Expected to Rise, Royal Bank Of Canada Analyst Says

STEP Energy Services (TSE:STEP - Get Free Report) had its price objective hoisted by equities research analysts at Royal Bank Of Canada from C$4.25 to C$4.50 in a research note issued to investors on Thursday,BayStreet.CA reports. The firm presently has a "sector perform" rating on the stock. Royal Bank Of Canada's target price would indicate a potential upside of 6.64% from the company's previous close.

Separately, Raymond James Financial cut shares of STEP Energy Services from an "outperform" rating to a "market perform" rating and dropped their target price for the stock from C$5.50 to C$5.00 in a research report on Wednesday, April 9th.

STEP Energy Services Trading Up 2.2%

Shares of STEP Energy Services stock traded up C$0.09 during midday trading on Thursday, reaching C$4.22. 700 shares of the company's stock traded hands, compared to its average volume of 49,508. The stock has a 50 day moving average of C$3.91 and a 200-day moving average of C$4.20. STEP Energy Services has a 12 month low of C$3.35 and a 12 month high of C$5.26. The company has a market cap of C$301.96 million, a PE ratio of 7.31 and a beta of 2.07. The company has a debt-to-equity ratio of 22.04, a quick ratio of 1.11 and a current ratio of 1.39.

Insider Buying and Selling

In related news, Director Edward David Lafehr purchased 25,000 shares of the stock in a transaction dated Thursday, May 22nd. The stock was purchased at an average price of C$3.90 per share, with a total value of C$97,500.00. Also, Senior Officer Stephen Murray Glanville sold 8,082 shares of the stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of C$3.81, for a total transaction of C$30,815.05. Insiders have sold 47,741 shares of company stock valued at $183,792 over the last quarter. 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.

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