STEP Energy Services (TSE:STEP) Stock Price Up 27% - What's Next?

Key Points

• STEP Energy Services stock surged by 27% on Thursday, reaching a price of C$5.41 after trading as high as C$5.48, with a significant increase in trading volume.
• Analysts have mixed views, with Royal Bank Of Canada raising the price target from C$4.25 to C$4.50 and maintaining a "sector perform" rating, while the consensus rating is a "Moderate Buy" with an average target price of C$5.04.
• The company focuses on providing energy services, specializing in coiled tubing, fluid and nitrogen pumping, and hydraulic fracturing solutions, differentiating itself with modern equipment and a commitment to safety.

STEP Energy Services Ltd. (TSE:STEP - Get Free Report) rose 27% on Thursday . The company traded as high as C$5.48 and last traded at C$5.41. Approximately 430,190 shares traded hands during trading, an increase of 982% from the average daily volume of 39,744 shares. The stock had previously closed at C$4.26.

Analyst Ratings Changes

Separately, Royal Bank Of Canada upped their price target 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 research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of C$5.04.

STEP Energy Services Trading Up 27.0%

The company has a fifty day simple moving average of C$4.35 and a two-hundred day simple moving average of C$4.16. 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$394.25 million, a PE ratio of -20.04 and a beta of 1.93.

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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