Western Energy Services (TSE:WRG) Shares Cross Above 50-Day Moving Average – Should You Sell?

Western Energy Services Corp. (TSE:WRG)’s share price passed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of C$2.80 and traded as high as C$3.06. Western Energy Services shares last traded at C$2.90, with a volume of 3,203 shares trading hands.

Analysts Set New Price Targets

Separately, ATB Cormark Capital Markets decreased their price target on shares of Western Energy Services from C$2.75 to C$2.50 and set a “sector perform” rating on the stock in a research note on Friday, December 19th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of C$2.50.

Western Energy Services Stock Performance

The company has a market cap of C$98.14 million, a price-to-earnings ratio of -3.82, a P/E/G ratio of 0.09 and a beta of -0.18. The company has a current ratio of 1.82, a quick ratio of 1.46 and a debt-to-equity ratio of 37.49. The stock’s fifty day simple moving average is C$2.80 and its 200 day simple moving average is C$2.35.

Western Energy Services Company Profile

Western Energy Services Corp operates as an oilfield service industry in Canada and the United States of America. The company functions its drilling services through two segments namely, Contract drilling and Production services. Its contract drilling segment is involved in drilling rigs with ancillary equipment as well as provides such services to crude oil and natural gas exploration and production companies. The production service segment includes well servicing rigs and related equipment, and oilfield rental equipment.