Raymond James Lowers Secure Energy Services (TSE:SES) Price Target to C$9.25

Posted by on Apr 23rd, 2023

Secure Energy Services (TSE:SES – Get Rating) had its price objective lowered by research analysts at Raymond James from C$10.00 to C$9.25 in a research note issued on Friday, BayStreet.CA reports. The firm currently has a “strong-buy” rating on the stock. Raymond James’ price target would suggest a potential upside of 39.94% from the company’s current price. Raymond James also issued estimates for Secure Energy Services’ FY2023 earnings at $0.73 EPS and FY2024 earnings at $0.80 EPS.

A number of other research analysts also recently issued reports on SES. BMO Capital Markets lowered their price target on Secure Energy Services from C$11.00 to C$8.00 in a report on Tuesday, March 7th. Stifel Nicolaus raised their price target on shares of Secure Energy Services from C$11.00 to C$11.50 in a report on Friday, March 3rd. ATB Capital decreased their price objective on shares of Secure Energy Services from C$10.50 to C$9.00 in a report on Wednesday, March 8th. National Bank Financial upgraded shares of Secure Energy Services from a “sector perform overweight” rating to an “outperform market weight” rating in a report on Tuesday, April 4th. Finally, CIBC downgraded shares of Secure Energy Services from an “outperform” rating to a “neutral” rating and cut their target price for the stock from C$10.50 to C$8.00 in a research report on Tuesday, March 7th. Three equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of C$8.93.

Secure Energy Services Price Performance

Shares of TSE SES opened at C$6.61 on Friday. The company has a 50 day moving average of C$7.02 and a 200 day moving average of C$7.18. The company has a quick ratio of 1.10, a current ratio of 1.25 and a debt-to-equity ratio of 81.44. Secure Energy Services has a twelve month low of C$5.19 and a twelve month high of C$8.76. The firm has a market cap of C$2.02 billion, a P/E ratio of 10.84, a PEG ratio of 0.17 and a beta of 2.49.

Insider Buying and Selling

In related news, Senior Officer Michael Wayne Callihoo purchased 7,000 shares of the business’s stock in a transaction on Thursday, March 16th. The stock was acquired at an average price of C$6.11 per share, with a total value of C$42,770.00. In other news, Senior Officer Allen Peter Gransch acquired 20,000 shares of the firm’s stock in a transaction dated Friday, March 10th. The shares were purchased at an average cost of C$6.74 per share, for a total transaction of C$134,800.00. Also, Senior Officer Michael Wayne Callihoo bought 7,000 shares of the stock in a transaction that occurred on Thursday, March 16th. The shares were purchased at an average price of C$6.11 per share, for a total transaction of C$42,770.00. In the last three months, insiders have purchased 42,000 shares of company stock valued at $270,675. 1.63% of the stock is owned by company insiders.

About Secure Energy Services

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Secure Energy Services Inc, an energy services company, provides solutions to upstream oil and natural gas companies operating primarily in Western Canadian Sedimentary Basin and the United States. It operates through two segments, Midstream Infrastructure, and Environmental and Fluid Management. The company's Midstream Infrastructure segment provides services, such as clean oil terminalling, rail transloading, pipeline transportation, marketing and custom treating of crude oil, produced and waste water disposal, oilfield waste processing, and purchase/resale of oil services through its full service terminals, rail facilities, crude oil pipelines, crude oil terminalling facilities, water disposal facilities, and landfills.

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