Source Energy Services (TSE:SHLE) Sets New 12-Month High After Analyst Upgrade

Source Energy Services Ltd. (TSE:SHLE) reached a new 52-week high during mid-day trading on Tuesday after BMO Capital Markets raised their price target on the stock from C$16.00 to C$18.00. The company traded as high as C$15.79 and last traded at C$15.52, with a volume of 38520 shares. The stock had previously closed at C$14.45.

Separately, Acumen Capital raised their price target on shares of Source Energy Services from C$15.00 to C$15.50 in a report on Thursday, March 14th.

Insiders Place Their Bets

In other Source Energy Services news, Senior Officer Derren James Newell sold 11,500 shares of the firm’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of C$9.96, for a total value of C$114,540.00. Corporate insiders own 11.09% of the company’s stock.

Source Energy Services Price Performance

The stock has a market cap of C$218.43 million, a price-to-earnings ratio of 1.36 and a beta of 2.96. The stock’s 50 day moving average price is C$11.30 and its two-hundred day moving average price is C$8.42. The company has a quick ratio of 0.22, a current ratio of 1.26 and a debt-to-equity ratio of 131.13.

Source Energy Services Company Profile

Source Energy Services Ltd. engages in the production and distribution of Northern White frac sand used primarily in oil and gas exploration and production in Canada and the United States. It also provides storage and logistics services for other bulk oil and gas well completion materials; and develops Sahara, a wellsite mobile sand storage and handling system.