Total Energy Services (TSE:TOT) Downgraded by AltaCorp Capital

Total Energy Services (TSE:TOT) was downgraded by investment analysts at AltaCorp Capital from an “outperform” rating to a “sector perform” rating in a note issued to investors on Wednesday, BayStreet.CA reports. They currently have a C$7.75 target price on the stock, down from their prior target price of C$11.50. AltaCorp Capital’s price target would indicate a potential upside of 31.13% from the stock’s current price.

A number of other research analysts also recently commented on the stock. Canaccord Genuity dropped their price objective on shares of Total Energy Services from C$12.00 to C$9.00 in a research note on Friday, August 9th. BMO Capital Markets dropped their price objective on shares of Total Energy Services from C$11.00 to C$8.50 in a research note on Friday, August 9th. TD Securities dropped their price objective on shares of Total Energy Services from C$9.00 to C$8.50 and set a “hold” rating for the company in a research note on Friday, August 9th. Finally, CIBC dropped their price objective on shares of Total Energy Services from C$11.50 to C$10.50 in a research note on Monday.

Shares of TSE TOT traded down C$0.18 on Wednesday, reaching C$5.91. 22,270 shares of the company traded hands, compared to its average volume of 31,242. Total Energy Services has a fifty-two week low of C$5.85 and a fifty-two week high of C$12.80. The firm’s 50 day moving average is C$7.58. The company has a quick ratio of 0.88, a current ratio of 1.40 and a debt-to-equity ratio of 52.84. The company has a market capitalization of $277.10 million and a PE ratio of 10.52.

In other news, Director Daniel Kim Halyk bought 5,000 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was acquired at an average price of C$6.25 per share, for a total transaction of C$31,250.00. Following the acquisition, the director now owns 1,188,800 shares of the company’s stock, valued at C$7,430,000. Also, insider Total Energy Services Inc bought 50,100 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The shares were purchased at an average price of C$9.50 per share, with a total value of C$475,955.01. Following the acquisition, the insider now directly owns 80,900 shares in the company, valued at approximately C$768,558.09. In the last ninety days, insiders have bought 181,790 shares of company stock valued at $1,598,899.

Total Energy Services Company Profile

Total Energy Services Inc provides diversified energy services. It operates through four segments: Contract Drilling Services; Rentals and Transportation Services; Compression and Process Services; and Well Servicing. The Contract Drilling Services segment offers contract drilling services to oil and gas exploration and development companies in the United States and Australia.

Further Reading: Investing in Growth Stocks

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