Western Energy Services (TSE:WRG) Price Target Cut to C$2.75

Western Energy Services (TSE:WRG) had its price target cut by Stifel Nicolaus from C$3.00 to C$2.75 in a research note released on Thursday morning, BayStreet.CA reports. They currently have a hold rating on the stock.

Western Energy Services Price Performance

Shares of TSE WRG opened at C$2.80 on Thursday. The business’s 50 day moving average price is C$2.71 and its two-hundred day moving average price is C$2.89. The company has a market cap of C$94.75 million, a PE ratio of -14.00, a price-to-earnings-growth ratio of 0.09 and a beta of 1.59. The company has a quick ratio of 1.46, a current ratio of 1.66 and a debt-to-equity ratio of 38.97. Western Energy Services has a twelve month low of C$2.22 and a twelve month high of C$3.95.

Western Energy Services (TSE:WRG) last issued its quarterly earnings results on Wednesday, February 28th. The company reported C($0.06) earnings per share (EPS) for the quarter. Western Energy Services had a negative return on equity of 2.30% and a negative net margin of 3.09%. The company had revenue of C$56.26 million for the quarter, compared to analyst estimates of C$55.00 million. On average, analysts predict that Western Energy Services will post 0.1499094 EPS for the current year.

Insider Activity at Western Energy Services

In other news, insider Sime Armoyan bought 698,700 shares of the company’s stock in a transaction on Friday, March 1st. The shares were purchased at an average price of C$2.60 per share, with a total value of C$1,816,340.52. In the last quarter, insiders have acquired 873,000 shares of company stock valued at $2,295,656. 32.65% of the stock is owned by corporate insiders.

Western Energy Services Company Profile

Western Energy Services Corp. operates as an oilfield service company in Canada and the United States. It operates through Contract Drilling and Production Services segments. The Contract Drilling segment provides contract drilling services using drilling rigs and auxiliary equipment. The Production Services segment offers well servicing rig and related equipment, as well as rental equipment services.