Source Energy Services (TSE:SHLE) Trading Up 1.5% – Here’s Why

Shares of Source Energy Services Ltd. (TSE:SHLE) were up 1.5% during mid-day trading on Wednesday . The company traded as high as C$13.05 and last traded at C$13.04. Approximately 138,825 shares changed hands during mid-day trading, an increase of 504% from the average daily volume of 22,999 shares. The stock had previously closed at C$12.85.

Analysts Set New Price Targets

Separately, BMO Capital Markets upped their price target on shares of Source Energy Services from C$14.00 to C$16.00 in a research report on Thursday, November 7th.

Source Energy Services Stock Performance

The company has a debt-to-equity ratio of 126.37, a current ratio of 0.61 and a quick ratio of 0.22. The stock has a fifty day moving average price of C$14.85 and a two-hundred day moving average price of C$14.01. The company has a market cap of C$176.36 million, a P/E ratio of 1.04 and a beta of 2.82.

Source Energy Services Company Profile

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.