Secure Energy Services (TSE:SES) Hits New 52-Week High – Here’s What Happened

Shares of Secure Energy Services Inc. (TSE:SES) reached a new 52-week high on Tuesday . The company traded as high as C$16.25 and last traded at C$16.16, with a volume of 11451 shares trading hands. The stock had previously closed at C$16.10.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on SES shares. National Bankshares lifted their price objective on Secure Energy Services from C$14.00 to C$17.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Scotiabank boosted their target price on Secure Energy Services from C$16.00 to C$18.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. ATB Capital increased their price target on shares of Secure Energy Services from C$17.00 to C$18.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Raymond James boosted their price objective on shares of Secure Energy Services from C$14.75 to C$15.25 and gave the company an “outperform” rating in a report on Thursday, October 31st. Finally, Eight Capital increased their target price on shares of Secure Energy Services from C$20.00 to C$22.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Secure Energy Services presently has a consensus rating of “Moderate Buy” and a consensus target price of C$16.58.

Secure Energy Services Stock Up 2.8 %

The stock’s fifty day moving average price is C$13.02 and its 200-day moving average price is C$12.11. The company has a quick ratio of 1.10, a current ratio of 1.15 and a debt-to-equity ratio of 52.03. The company has a market capitalization of C$3.99 billion, a price-to-earnings ratio of 8.29, a P/E/G ratio of 0.17 and a beta of 2.41.

Secure Energy Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st were paid a $0.10 dividend. The ex-dividend date was Tuesday, October 1st. This represents a $0.40 annualized dividend and a yield of 2.41%. Secure Energy Services’s payout ratio is currently 20.00%.

Insider Transactions at Secure Energy Services

In related news, Senior Officer Corey Ray Higham bought 17,000 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The shares were acquired at an average price of C$11.80 per share, for a total transaction of C$200,560.90. In other Secure Energy Services news, Senior Officer Allen Peter Gransch sold 4,011 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of C$12.20, for a total value of C$48,934.20. Also, Senior Officer Corey Ray Higham bought 17,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The shares were acquired at an average cost of C$11.80 per share, for a total transaction of C$200,560.90. Insiders sold a total of 27,255 shares of company stock worth $339,081 in the last three months. Insiders own 0.95% of the company’s stock.

About Secure Energy Services

Secure Energy Services Inc engages in the waste management and energy infrastructure businesses primarily in Canada and the United States. It operates through three segments, Environmental Waste Management, Energy Infrastructure, and Oilfield Services. The Environmental Waste Management segment includes a network of waste processing facilities, produced water pipelines, industrial landfills, waste transfer, and metal recycling facilities.