STEP Energy Services (STEP) Cut to Market Perform at BMO Capital Markets

BMO Capital Markets lowered shares of STEP Energy Services (TSE:STEP) from an outperform rating to a market perform rating in a research note issued to investors on Friday morning. They currently have C$4.25 price objective on the stock, down from their prior price objective of C$12.00.

A number of other analysts have also issued reports on the company. Raymond James lowered STEP Energy Services from a strong-buy rating to an outperform rating and dropped their target price for the stock from C$18.00 to C$15.00 in a research report on Friday, September 21st. CIBC lowered their price objective on STEP Energy Services from C$22.00 to C$12.00 in a report on Tuesday, October 16th. National Bank Financial lowered their price objective on STEP Energy Services from C$15.50 to C$12.00 and set an outperform rating for the company in a report on Wednesday, September 26th. Industrial Alliance Securities lowered their price objective on STEP Energy Services from C$16.25 to C$11.00 in a report on Tuesday, October 9th. Finally, TD Securities lowered their price objective on STEP Energy Services from C$14.50 to C$13.50 and set a buy rating for the company in a report on Friday, August 3rd. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of Hold and an average price target of C$9.28.

Shares of TSE STEP traded down C$0.48 during midday trading on Friday, reaching 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 52-week low of C$2.80 and a 52-week 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 acquired 3,800 shares of the 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.

STEP Energy Services Company Profile

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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