Source Energy Services (TSE:SHLE) Reaches New 12-Month High Following Analyst Upgrade

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

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

Insider Transactions at Source Energy Services

In related news, Senior Officer Derren James Newell sold 11,500 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of C$9.96, for a total value of C$114,540.00. Insiders own 11.09% of the company’s stock.

Source Energy Services Price Performance

The stock’s 50-day moving average price is C$11.14 and its 200-day moving average price is C$8.35. The company has a market capitalization of C$210.30 million, a price-to-earnings ratio of 1.30 and a beta of 2.96. 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.