Scotiabank Thinks Total Energy Services’ Stock is Going to Recover

By Ryan Adsit

Total Energy Services (TSX: TOT), the Materials sector company was revisited yesterday, and remains undervalued for at least one analyst on the street. Analyst Vladislav Vlad from Scotiabank rated Total Energy Services (TSX: TOT) a Buy, setting a C$21 price target.

According to TipRanks.com, Vlad is ranked #991 out of 4573 analysts.

Currently, the analyst consensus on Total Energy Services is Strong Buy and the average price target is C$18.85, representing a 52.1% upside.

In a report issued on June 13, Canaccord Genuity also reiterated a Buy rating on the stock with a C$17 price target.

The company has a one year high of C$16 and a one year low of C$12.05. Currently, Total Energy Services has an average volume of 56.01K.

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 Tuesday at $12.39, close to its 52-week low of $12.05.