Secure Energy Services (TSE:SES) PT Lowered to C$10.50

Secure Energy Services (TSE:SES – Get Rating) had its price objective trimmed by Cormark from C$12.00 to C$10.50 in a research note issued to investors on Tuesday, BayStreet.CA reports. Cormark also issued estimates for Secure Energy Services’ Q2 2023 earnings at $0.15 EPS, Q3 2023 earnings at $0.19 EPS, FY2023 earnings at $0.68 EPS, Q1 2024 earnings at $0.18 EPS, Q2 2024 earnings at $0.17 EPS, Q3 2024 earnings at $0.20 EPS, Q4 2024 earnings at $0.17 EPS and FY2024 earnings at $0.72 EPS.

Several other analysts have also issued reports on SES. Canaccord Genuity Group cut their target price on Secure Energy Services from C$10.50 to C$9.00 and set a speculative buy rating for the company in a research note on Monday. TD Securities upped their target price on Secure Energy Services from C$8.50 to C$9.00 and gave the stock a hold rating in a research note on Friday, March 3rd. ATB Capital upped their target price on Secure Energy Services from C$9.00 to C$10.50 in a research note on Wednesday, January 4th. Royal Bank of Canada downgraded Secure Energy Services from an outperform rating to a sector perform rating and lowered their price objective for the company from C$11.00 to C$8.00 in a research report on Tuesday. Finally, National Bankshares downgraded Secure Energy Services from an outperform rating to a sector perform rating and lowered their price objective for the company from C$10.00 to C$8.00 in a research report on Monday. Four investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Secure Energy Services currently has a consensus rating of Moderate Buy and an average price target of C$9.25.

Secure Energy Services Stock Down 0.9 %

Shares of SES opened at C$6.72 on Tuesday. The firm has a market cap of C$2.05 billion, a P/E ratio of -33.60, a P/E/G ratio of 0.17 and a beta of 2.52. The stock has a 50 day simple moving average of C$7.76 and a two-hundred day simple moving average of C$7.03. The company has a debt-to-equity ratio of 81.44, a current ratio of 1.25 and a quick ratio of 1.10. Secure Energy Services has a 1 year low of C$5.02 and a 1 year high of C$8.76.

Secure Energy Services Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, January 16th. Stockholders of record on Sunday, January 1st were paid a dividend of $0.10 per share. This is a positive change from Secure Energy Services’s previous quarterly dividend of $0.01. The ex-dividend date of this dividend was Thursday, December 29th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 5.95%. Secure Energy Services’s payout ratio is presently -200.00%.

Insider Transactions at Secure Energy Services

In other Secure Energy Services news, Senior Officer James Darryl Anderson sold 3,951 shares of the company’s stock in a transaction that occurred on Friday, January 6th. The shares were sold at an average price of C$6.65, for a total transaction of C$26,273.36. Following the completion of the sale, the insider now directly owns 367,897 shares of the company’s stock, valued at C$2,446,441.47. In other Secure Energy Services news, Director Rene Amirault sold 17,761 shares of the company’s stock in a transaction that occurred on Friday, January 6th. The shares were sold at an average price of C$6.65, for a total value of C$118,107.10. Following the completion of the transaction, the director now directly owns 464,255 shares in the company, valued at C$3,087,202.90. Also, Senior Officer James Darryl Anderson sold 3,951 shares of the company’s stock in a transaction that occurred on Friday, January 6th. The stock was sold at an average price of C$6.65, for a total transaction of C$26,273.36. Following the completion of the transaction, the insider now owns 367,897 shares of the company’s stock, valued at C$2,446,441.47. Insiders own 1.61% of the company’s stock.

Secure Energy Services Company Profile

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Secure Energy Services Inc, an energy services company, provides solutions to upstream oil and natural gas companies operating primarily in Western Canadian Sedimentary Basin and the United States. It operates through two segments, Midstream Infrastructure, and Environmental and Fluid Management. The company's Midstream Infrastructure segment provides services, such as clean oil terminalling, rail transloading, pipeline transportation, marketing and custom treating of crude oil, produced and waste water disposal, oilfield waste processing, and purchase/resale of oil services through its full service terminals, rail facilities, crude oil pipelines, crude oil terminalling facilities, water disposal facilities, and landfills.