STEP Energy Services (TSE:STEP) Trading Up 6.7%

STEP Energy Services Ltd. (TSE:STEPGet Rating)’s share price rose 6.7% during trading on Thursday . The company traded as high as C$4.34 and last traded at C$4.27. Approximately 122,136 shares traded hands during trading, a decline of 31% from the average daily volume of 176,807 shares. The stock had previously closed at C$4.00.

STEP has been the subject of a number of research analyst reports. ATB Capital lifted their price target on STEP Energy Services to C$5.50 and gave the stock an “outperform” rating in a report on Sunday, March 20th. Royal Bank of Canada lifted their price target on STEP Energy Services from C$2.50 to C$3.00 and gave the stock a “sector perform” rating in a report on Friday, March 18th. Raymond James upgraded STEP Energy Services from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from C$2.15 to C$4.25 in a report on Thursday, March 17th. Finally, BMO Capital Markets upgraded STEP Energy Services from a “market perform” rating to a “buy” rating and boosted their price objective for the stock from C$2.50 to C$4.00 in a report on Friday, April 1st.

The company has a debt-to-equity ratio of 115.72, a current ratio of 1.03 and a quick ratio of 0.70. The business’s 50-day moving average price is C$2.60 and its two-hundred day moving average price is C$2.09. The company has a market capitalization of C$276.72 million and a price-to-earnings ratio of -9.81.

About STEP Energy Services (TSE:STEP)

STEP Energy Services Ltd., an oilfield service company, provides integrated coiled tubing, fracturing, and wireline solutions to service the oil and gas industry in Canada and the United States. It also provides chemical laboratory solutions; fluid pumping services for coiled tubing operations and standalone projects; and nitrogen pumping solutions for coiled tubing and hydraulic fracturing operations, as well as cased hole wireline and open hole wireline services.

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