STEP Energy Services (STEP) Given New C$8.50 Price Target at GMP Securities

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STEP Energy Services (TSE:STEP) had its price objective trimmed by GMP Securities from C$11.00 to C$8.50 in a research note published on Friday morning.

Several other research analysts have also recently issued reports on the company. National Bank Financial cut STEP Energy Services from an outperform rating to a sector perform rating and lowered their price objective for the stock from C$11.00 to C$6.50 in a research report on Friday. CIBC lowered their price objective on STEP Energy Services from C$12.00 to C$10.00 in a research report on Friday. Industrial Alliance Securities decreased their target price on STEP Energy Services from C$16.25 to C$11.00 in a research report on Tuesday, October 9th. Raymond James cut STEP Energy Services from a strong-buy rating to an outperform rating and decreased their target price for the company from C$18.00 to C$15.00 in a research report on Friday, September 21st. Finally, Royal Bank of Canada decreased their target price on STEP Energy Services from C$17.00 to C$15.00 and set an outperform rating for the company in a research report on Friday, August 3rd. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. STEP Energy Services presently has an average rating of Hold and a consensus price target of C$9.28.

Shares of TSE:STEP traded down C$0.48 on Friday, hitting C$2.85. 1,217,400 shares of the company’s stock were exchanged, compared to its average volume of 176,242. STEP Energy Services has a 1-year low of C$2.80 and a 1-year high of C$13.65. The company has a quick ratio of 1.47, a current ratio of 1.77 and a debt-to-equity ratio of 57.81.

In other news, insider David Todd Johnson bought 3,800 shares of the firm’s stock in a transaction that occurred on Wednesday, August 15th. The stock was purchased at an average cost of C$7.78 per share, with a total value of C$29,564.00.

About STEP Energy Services

STEP Energy Services Ltd. operates as an oilfield service company that provides fracturing and coiled tubing solutions in Canada and the United States. It applies fit-for-purpose coiled tubing, pumping, and hydraulic fracturing technology to enhance reservoir performance in well stimulation and intervention projects for clients operating in unconventional oil, gas, and liquids rich plays.

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Analyst Recommendations for STEP Energy Services (TSE:STEP)

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