Source Energy Services (SHLE) PT Lowered to C$11.50

Source Energy Services (TSE:SHLE) had its price target cut by Canaccord Genuity from C$12.50 to C$11.50 in a note issued to investors on Tuesday. Canaccord Genuity’s target price would suggest a potential upside of 54.36% from the company’s current price.

A number of other analysts have also recently issued reports on the company. Scotiabank lifted their price objective on Source Energy Services from C$17.00 to C$17.50 and gave the company an “outperform” rating in a research report on Wednesday, November 8th. CIBC reduced their price objective on Source Energy Services from C$13.50 to C$12.50 in a research report on Tuesday, January 23rd. Finally, Morgan Stanley lifted their price objective on Source Energy Services from C$12.00 to C$13.00 in a research report on Wednesday, November 15th. Six equities research analysts have rated the stock with a buy rating, Source Energy Services currently has an average rating of “Buy” and a consensus target price of C$13.58.

Shares of Source Energy Services (TSE SHLE) traded down C$0.25 during trading on Tuesday, hitting C$7.45. The stock had a trading volume of 25,000 shares, compared to its average volume of 54,822. The firm has a market capitalization of $483.18 and a PE ratio of -21.69. Source Energy Services has a 1-year low of C$5.68 and a 1-year high of C$10.80.

In related news, Director James Mcmahon sold 200,000 shares of Source Energy Services stock in a transaction on Friday, December 1st. The stock was sold at an average price of C$9.15, for a total transaction of C$1,830,000.00. In the last three months, insiders have sold 219,464 shares of company stock valued at $2,015,241.

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Source Energy Services Company Profile

Source Energy Services Ltd. produces, supplies, and distributes Northern White frac sand primarily to the Western Canadian Sedimentary Basin. The company was founded in 2017 and is headquartered in Calgary, Canada.

Analyst Recommendations for Source Energy Services (TSE:SHLE)

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