Scotiabank Maintains a Buy Rating on Total Energy Services

By Ryan Adsit

The Materials sector company, Total Energy Services (TSX: TOT), has received a rating update from a Wall Street analyst yesterday. The company received a Buy rating from Scotiabank’s analyst Vladislav Vlad, with a C$21 price target.

According to TipRanks.com, Vlad is ranked #328 out of 4566 analysts.

Currently, the analyst consensus on Total Energy Services is Strong Buy and the average price target is C$18.85, representing a 38.6% upside.

In a report issued on May 10, Canaccord Genuity also reiterated a Buy rating on the stock with a C$17 price target.

Total Energy Services’ market cap is currently C$541.9M and has a P/E ratio of 0.

Total Energy Services, Inc. provides drilling and production services to the oil and gas industry. It operates through the following three segments: Contract Drilling Services, Rentals and Transportation Services, and Compression and Process Services. The Contract Drilling Services segment includes the contracting of drilling equipment and the provision of labour required to operate the equipment. The Rentals and Transportation Services segment comprises of rental and transportation of equipment, used in oil and natural gas drilling, completion and production processes. The Compression and Process Services segment covers of fabrication, sale, rental and servicing of natural gas compression and process equipment. The company was founded by Daniel Halyk on April 15, 2009 and is headquartered in Calgary, Canada.

The company’s shares closed last Wednesday at $13.60.