Source Energy Services (TSE:SHLE) Downgraded to Market Perform at BMO Capital Markets

Source Energy Services (TSE:SHLE) was downgraded by research analysts at BMO Capital Markets from an “outperform” rating to a “market perform” rating in a report released on Friday, BayStreet.CA reports. They presently have a C$14.00 price objective on the stock, down from their prior price objective of C$20.00. BMO Capital Markets’ target price indicates a potential upside of 16.67% from the stock’s current price.

Source Energy Services Trading Down 3.2 %

Shares of TSE:SHLE traded down C$0.40 during midday trading on Friday, reaching C$12.00. 18,826 shares of the company’s stock were exchanged, compared to its average volume of 29,420. The firm’s 50 day simple moving average is C$12.70 and its two-hundred day simple moving average is C$12.40. The company has a debt-to-equity ratio of 123.18, a current ratio of 0.59 and a quick ratio of 0.22. The stock has a market cap of C$162.60 million, a price-to-earnings ratio of 1.04 and a beta of 2.86. Source Energy Services has a fifty-two week low of C$5.29 and a fifty-two week high of C$18.45.

About Source Energy Services

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