Royal Bank of Canada Lowers Western Energy Services (WRG) to Sector Perform
Royal Bank of Canada cut shares of Western Energy Services (TSE:WRG) from an outperform rating to a sector perform rating in a research report released on Thursday morning. The brokerage currently has C$1.25 price target on the stock, down from their previous price target of C$2.00.
Other equities research analysts have also issued reports about the stock. GMP Securities lowered their price target on shares of Western Energy Services from C$1.50 to C$1.25 in a report on Friday, October 27th. TD Securities lowered their price target on shares of Western Energy Services from C$1.50 to C$1.40 and set a hold rating for the company in a report on Wednesday, October 18th. Canaccord Genuity set a C$1.50 price objective on shares of Western Energy Services and gave the company a hold rating in a research note on Monday, September 25th. Finally, Raymond James Financial reduced their price objective on shares of Western Energy Services from C$1.40 to C$1.20 and set a market perform rating on the stock in a research note on Wednesday, December 6th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of Hold and an average target price of C$1.98.
Shares of Western Energy Services (WRG) opened at C$1.21 on Thursday. The firm has a market cap of $111.53, a price-to-earnings ratio of -1.89 and a beta of -0.22. Western Energy Services has a fifty-two week low of C$0.96 and a fifty-two week high of C$3.52.
About Western Energy Services
Western Energy Services Corp. operates as an oilfield service company in Canada and the United States. The company operates through Contract Drilling and Production Services segments. The Contract Drilling segment provides contract drilling services. It operates a fleet of 56 drilling rigs and associated equipment, including 51 in Canada and 5 in the United States.
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