Analysts Set Western Energy Services Corp (WRG) Price Target at $1.04
Western Energy Services Corp (TSE:WRG) has received an average rating of “Buy” from the seven ratings firms that are currently covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is C$1.03.
A number of equities analysts have recently issued reports on WRG shares. Canaccord Genuity dropped their price target on Western Energy Services from C$1.00 to C$0.90 in a research report on Tuesday, October 16th. Cormark restated a “buy” rating and set a C$0.90 price target on shares of Western Energy Services in a report on Friday, November 16th. Finally, CIBC downgraded Western Energy Services from an “outperform” rating to a “neutral” rating and cut their price target for the stock from C$2.00 to C$1.15 in a report on Tuesday, October 16th.
Shares of WRG stock traded down C$0.01 during trading hours on Friday, reaching C$0.45. The stock had a trading volume of 15,000 shares, compared to its average volume of 54,209. The company has a debt-to-equity ratio of 62.65, a quick ratio of 1.46 and a current ratio of 1.63. Western Energy Services has a 12 month low of C$0.34 and a 12 month high of C$1.43.
In related news, Director Ronald Mathison bought 1,314,800 shares of the stock in a transaction on Monday, November 26th. The shares were purchased at an average price of C$0.51 per share, for a total transaction of C$670,548.00.
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 operates drilling rigs and related ancillary equipment. It operates a fleet of 56 drilling rigs, including 50 in Canada and 6 in the United States.
Further Reading: Cost of Debt
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