STEP Energy Services (TSE:STEP) Trading Up 27% - Still a Buy?

Key Points

• Shares of STEP Energy Services increased by 27% during mid-day trading, reaching as high as C$5.48, with an impressive trading volume that marked a 982% increase from its average.
• Royal Bank of Canada raised its price target for STEP Energy Services from C$4.25 to C$4.50, with two analysts rating the stock as a Buy and two as a Hold.
• The company specializes in energy services, including coiled tubing and hydraulic fracturing, and has a market capitalization of approximately C$394.25 million with a current ratio of 1.39.

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

Wall Street Analysts Forecast Growth

Separately, Royal Bank Of Canada boosted their price objective on STEP Energy Services from C$4.25 to C$4.50 and gave the stock 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 issued a Hold rating to the stock. According to MarketBeat.com, STEP Energy Services presently has an average rating of "Moderate Buy" and a consensus target price of C$5.04.

STEP Energy Services Price Performance

The stock's 50-day moving average price is C$4.35 and its 200 day moving average price is C$4.16. 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 firm has a market capitalization of C$394.25 million, a price-to-earnings ratio of -20.04 and a beta of 1.93.

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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