CES Energy Solutions (TSE:CEU) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

CES Energy Solutions Corp. (TSE:CEU)’s share price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$16.65 and traded as high as C$17.59. CES Energy Solutions shares last traded at C$17.13, with a volume of 438,402 shares.

Analysts Set New Price Targets

CEU has been the topic of several research reports. Royal Bank Of Canada raised their price target on shares of CES Energy Solutions from C$20.00 to C$22.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 14th. BMO Capital Markets raised shares of CES Energy Solutions from a “market perform” rating to an “outperform” rating and upped their price objective for the company from C$21.00 to C$22.00 in a research note on Wednesday, June 24th. TD cut their price objective on shares of CES Energy Solutions from C$19.00 to C$18.00 and set a “hold” rating for the company in a report on Monday, July 13th. Finally, National Bank Financial lowered shares of CES Energy Solutions from an “outperform” rating to a “sector perform” rating and set a C$20.00 target price on the stock. in a research note on Wednesday, May 13th. Four analysts have rated the stock with a Buy rating and three have given 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$18.94.

CES Energy Solutions Stock Down 0.8%

The firm’s fifty day simple moving average is C$16.94 and its two-hundred day simple moving average is C$16.65. The company has a current ratio of 2.75, a quick ratio of 1.78 and a debt-to-equity ratio of 55.71. The company has a market capitalization of C$3.61 billion, a price-to-earnings ratio of 17.66, a price-to-earnings-growth ratio of 0.61 and a beta of 0.51.

CES Energy Solutions (TSE:CEU) last announced its quarterly earnings results on Thursday, May 7th. The company reported C$0.24 earnings per share (EPS) for the quarter. The business 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%. Sell-side analysts anticipate that CES Energy Solutions Corp. will post 0.8600646 EPS for the current year.

Insider Buying and Selling

In other CES Energy Solutions news, Director John Michael Hooks sold 133,800 shares of the firm’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of C$18.92, for a total transaction of C$2,531,496.00. Following the completion of the sale, the director owned 902,565 shares of the company’s stock, valued at C$17,076,529.80. This trade represents a 12.91% decrease in their ownership of the stock. Also, insider David Allyn Burroughs sold 28,815 shares of the firm’s stock in a transaction on Monday, July 6th. The stock was sold at an average price of C$16.04, for a total value of C$462,192.60. Insiders sold a total of 205,683 shares of company stock valued at $3,684,499 in the last ninety days. Company insiders own 3.03% of the company’s stock.

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.