CES Energy Solutions (TSE:CEU) Share Price Crosses Below Two Hundred Day Moving Average – Time to Sell?

CES Energy Solutions Corp. (TSE:CEU) passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$16.24 and traded as low as C$16.16. CES Energy Solutions shares last traded at C$16.37, with a volume of 576,747 shares.

Wall Street Analysts Forecast Growth

CEU has been the subject of a number of research analyst reports. Raymond James Financial increased their target price on CES Energy Solutions from C$15.00 to C$21.00 in a report on Thursday, March 12th. Royal Bank Of Canada lifted their price target on CES Energy Solutions from C$20.00 to C$22.00 and gave the company an “outperform” rating in a report on Tuesday, April 14th. BMO Capital Markets raised CES Energy Solutions from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from C$21.00 to C$22.00 in a research note on Wednesday, June 24th. TD raised their price objective on CES Energy Solutions from C$18.00 to C$19.00 and gave the stock a “hold” rating in a research report on Friday, May 8th. Finally, National Bank Financial lowered CES Energy Solutions from an “outperform” rating to a “sector perform” rating and set a C$20.00 price objective for the company. in a research report on Wednesday, May 13th. Four analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$19.06.

CES Energy Solutions Trading Up 1.0%

The company has a debt-to-equity ratio of 55.71, a quick ratio of 1.78 and a current ratio of 2.75. The stock has a market cap of C$3.49 billion, a price-to-earnings ratio of 17.05, a price-to-earnings-growth ratio of 0.61 and a beta of 0.52. The company’s 50 day simple moving average is C$17.48 and its two-hundred day simple moving average is C$16.24.

CES Energy Solutions (TSE:CEU) last issued its earnings results on Thursday, May 7th. The company reported C$0.24 earnings per share (EPS) for the quarter. CES Energy Solutions had a net margin of 8.29% and a return on equity of 26.01%. The company had revenue of C$681.51 million during the quarter. Research analysts expect that CES Energy Solutions Corp. will post 0.8600646 EPS for the current fiscal year.

Insider Buying and Selling at CES Energy Solutions

In related news, Director John Michael Hooks sold 133,800 shares of CES Energy Solutions 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 approximately C$17,076,529.80. This trade represents a 12.91% decrease in their ownership of the stock. Also, insider Kenneth Earl Zinger bought 10,000 shares of the stock in a transaction on Monday, June 22nd. The stock was purchased at an average price of C$15.00 per share, for a total transaction of C$150,000.00. Following the purchase, the insider directly owned 1,682,857 shares of the company’s stock, valued at approximately C$25,242,855. This represents a 0.60% increase in their ownership of the stock. 3.03% of the stock is currently owned by company insiders.

About CES Energy Solutions

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.