Source Energy Services (TSE:SHLE) was downgraded by Industrial Alliance Securities from a “speculative buy” rating to a “hold” rating in a research report issued to clients and investors on Monday, May 6th, BayStreet.CA reports.
Several other equities analysts also recently weighed in on SHLE. Canaccord Genuity decreased their price target on shares of Source Energy Services from C$3.00 to C$2.75 in a research note on Thursday, January 10th. CIBC cut their price objective on shares of Source Energy Services from C$1.25 to C$1.00 in a research report on Thursday, February 21st. TD Securities cut their price objective on shares of Source Energy Services from C$1.60 to C$1.20 and set a “hold” rating for the company in a research report on Wednesday, March 6th. BMO Capital Markets cut shares of Source Energy Services from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from C$3.00 to C$1.50 in a research report on Monday, March 18th. Finally, Cormark cut shares of Source Energy Services from a “buy” rating to a “market perform” rating and dropped their price target for the company from C$2.00 to C$1.75 in a research report on Friday, May 3rd. Two investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of C$2.14.
SHLE traded down C$0.01 during midday trading on Monday, hitting C$1.00. 23,894 shares of the company traded hands, compared to its average volume of 71,772. The company has a quick ratio of 0.87, a current ratio of 1.61 and a debt-to-equity ratio of 84.29. The company has a market cap of $62.10 million and a price-to-earnings ratio of -4.48. Source Energy Services has a 52-week low of C$0.98 and a 52-week high of C$5.55.
Source Energy Services Ltd. produces, supplies, and distributes Northern White frac sand used primarily in oil and gas exploration and production in Western Canada and the United States. It also provides storage and logistics services for other bulk oil and gas well completion materials; and develops wellsite mobile sand storage and handling system.
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