Source Energy Services (TSE:SHLE) Sets New 1-Year High at $12.62

Shares of Source Energy Services Ltd. (TSE:SHLE) hit a new 52-week high during trading on Wednesday . The stock traded as high as C$12.62 and last traded at C$12.62, with a volume of 26844 shares trading hands. The stock had previously closed at C$12.50.

Analysts Set New Price Targets

Several equities analysts have commented on SHLE shares. BMO Capital Markets increased their price target on Source Energy Services from C$12.00 to C$14.00 in a report on Thursday, March 7th. Acumen Capital raised their price objective on shares of Source Energy Services from C$15.00 to C$15.50 in a research note on Thursday, March 14th.

Source Energy Services Stock Performance

The stock has a 50 day moving average price of C$8.91 and a two-hundred day moving average price of C$7.20. The company has a debt-to-equity ratio of 131.13, a current ratio of 1.26 and a quick ratio of 0.22. The company has a market capitalization of C$171.41 million, a price-to-earnings ratio of 1.05 and a beta of 2.82.

Insider Transactions at Source Energy Services

In other news, Senior Officer Derren James Newell sold 11,500 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of C$9.96, for a total transaction of C$114,540.00. Corporate insiders own 10.49% of the company’s stock.

About Source Energy Services

Source Energy Services Ltd. produces, supplies, and distributes Northern White frac sand used primarily in oil and gas exploration and production in Western Canada and the United States. It also provides storage and logistics services for other bulk oil and gas well completion materials; and develops wellsite mobile sand storage and handling system.