CES Energy Solutions (TSE:CEU) Insider Mihir Patel Sells 12,184 Shares of Stock

CES Energy Solutions Corp. (TSE:CEU) insider Mihir Patel sold 12,184 shares of the firm’s stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of C$16.04, for a total transaction of C$195,431.36. Following the transaction, the insider owned 16,571 shares of the company’s stock, valued at approximately C$265,798.84. The trade was a 42.37% decrease in their position.

CES Energy Solutions Stock Up 0.7%

Shares of TSE CEU opened at C$16.14 on Wednesday. The company’s 50 day moving average price is C$17.37 and its 200-day moving average price is C$16.32. The company has a debt-to-equity ratio of 55.71, a quick ratio of 1.78 and a current ratio of 2.75. CES Energy Solutions Corp. has a 52-week low of C$6.81 and a 52-week high of C$19.58. The company has a market capitalization of C$3.40 billion, a P/E ratio of 16.64, a price-to-earnings-growth ratio of 0.61 and a beta of 0.51.

CES Energy Solutions (TSE:CEU) last posted its quarterly earnings data on Thursday, May 7th. The company reported C$0.24 earnings per share for the quarter. The company had revenue of C$681.51 million during the quarter. CES Energy Solutions had a net margin of 8.29% and a return on equity of 26.01%. Equities analysts forecast that CES Energy Solutions Corp. will post 0.8600646 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Royal Bank Of Canada lifted their price objective on CES Energy Solutions from C$20.00 to C$22.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 14th. National Bank Financial cut CES Energy Solutions from an “outperform” rating to a “sector perform” rating and set a C$20.00 price target on the stock. in a report on Wednesday, May 13th. BMO Capital Markets raised shares of CES Energy Solutions from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from C$21.00 to C$22.00 in a research report on Wednesday, June 24th. TD lifted their price objective on shares of CES Energy Solutions from C$18.00 to C$19.00 and gave the company a “hold” rating in a research note on Friday, May 8th. Finally, Raymond James Financial boosted their target price on shares of CES Energy Solutions from C$15.00 to C$21.00 in a research report on Thursday, March 12th. Four equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of C$19.06.

CES Energy Solutions Company Profile

CES is a leading provider of technically advanced consumable chemical solutions throughout the lifecycle of the oilfield. This includes solutions at the drill-bit, at the point of completion and stimulation, at the wellhead and pump-jack, and finally through to the pipeline and midstream market. CES’ business model is relatively asset light and requires limited re-investment capital to grow. As a result, CES has been able to capitalize on the growing market demand for drilling fluids and production and specialty chemicals in North America while generating free cash flow.