RBC Capital Sticks to Their Buy Rating for Secure Energy Services

By Jason Carr

Secure Energy Services (TSX: SES), the Materials sector company, has received a rating update from a Wall Street analyst today. RBC Capital’s analyst Kurt Hallead reiterates their Buy rating on the shares, with a C$13 price target.

According to TipRanks.com, Hallead is a 4-star analyst with an average return of 4.2% and a 43.1% success rate. Hallead covers the Basic Materials sector, focusing on stocks such as Independence Contract Drilling, Energy Transfer Partners LP, and Diamond Offshore Drilling.

Secure Energy Services has an analyst consensus of Strong Buy, with a price target consensus of C$13.46.

Secure Energy Services’ market cap is currently C$1.46B and has a P/E ratio of 0.

Secure Energy Services, Inc. engages in the provision of safe and environmentally responsible fluids and solids solutions to the oil and gas industry. It operates through the following divisions: Processing, Recovery and Disposal; Drilling Services; and On Site Services. The Processing, Recovery and Disposal division operates under the name Secure Energy Services Inc., which owns and operates midstream infrastructure that provides processing, storing, shipping and marketing of crude oil, oilfield waste disposal and recycling. The Drilling Services division operates under the name Marquis Alliance Energy Group Inc., which provides equipment and chemicals for building, maintaining, processing and recycling of drilling and completion fluids. The On Site Services division includes environmental services which provide pre-drilling assessment planning, drilling waste management, remediation and reclamation of former well sites, facilities, commercial, and industrial properties, and laboratory services; integrated water solutions which include water management, recycling, pumping and storage solutions; CleanSite waste container services; pipeline integrity; demolition and decommissioning. The company was founded on April 24, 2007 and is headquartered in Calgary, Canada.

The company’s shares closed last Thursday at $9.