Canadian Energy Services & Technology’s “Sector Outperform” Rating Reaffirmed at Scotiabank (CEU)
Canadian Energy Services & Technology (TSE:CEU)‘s stock had its “sector outperform” rating reiterated by equities researchers at Scotiabank in a research report issued on Wednesday, Stock Ratings Network.com reports. They currently have a C$26.00 target price on the stock, up from their previous target price of C$22.00. Scotiabank’s price objective would suggest a potential upside of 18.34% from the company’s current price.
Shares of Canadian Energy Services & Technology (TSE:CEU) traded up 3.44% on Wednesday, hitting $21.97. 170,594 shares of the company’s stock traded hands. Canadian Energy Services & Technology has a 1-year low of $10.29 and a 1-year high of $21.73. The stock’s 50-day moving average is $18.81 and its 200-day moving average is $17.3. The company has a market cap of $1.468 billion and a P/E ratio of 48.27.
The company also recently declared a dividend, which is scheduled for Friday, December 13th. Stockholders of record on Friday, November 29th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Tuesday, November 26th.
Other equities research analysts have also recently issued reports about the stock. Analysts at National Bank Financial raised their price target on shares of Canadian Energy Services & Technology from C$20.00 to C$24.00 in a research note to investors on Friday, November 22nd. They now have an “outperform” rating on the stock. Separately, analysts at RBC Capital reiterated a “sector perform” rating on shares of Canadian Energy Services & Technology in a research note to investors on Friday, November 8th. They now have a C$19.00 price target on the stock. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of C$19.63.
Canadian Energy Services & Technology Corp., formerly Canadian Energy Services LP, is engaged in design and implement drilling fluid systems for North American based oil and natural gas producers.
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