Raymond James Cuts STEP Energy Services (TSE:STEP) Price Target to C$5.50

STEP Energy Services (TSE:STEP) had its target price lowered by Raymond James from C$5.75 to C$5.50 in a research report sent to investors on Thursday morning,BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

STEP has been the subject of several other research reports. ATB Capital cut their price objective on STEP Energy Services from C$5.50 to C$5.00 and set an “outperform” rating for the company in a report on Monday, December 23rd. Cormark upgraded STEP Energy Services from a “tender” rating to a “buy” rating and boosted their price objective for the stock from C$5.00 to C$5.50 in a report on Monday, January 6th.

STEP Energy Services Stock Up 1.0 %

Shares of TSE STEP opened at C$4.21 on Thursday. The company has a market cap of C$301.25 million, a P/E ratio of 7.29 and a beta of 2.07. The company has a current ratio of 1.39, a quick ratio of 1.11 and a debt-to-equity ratio of 22.04. STEP Energy Services has a 12-month low of C$3.39 and a 12-month high of C$5.26. The stock has a fifty day moving average price of C$4.40 and a 200 day moving average price of C$4.33.

Insider Buying and Selling

In other news, Senior Officer Bradley James Mcfarlane sold 18,001 shares of the firm’s stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of C$4.20, for a total value of C$75,604.20. 0.50% of the stock is currently owned by corporate insiders.

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.