Western Energy Services (WRG) Lowered to Sector Perform at Royal Bank of Canada
Western Energy Services (TSE:WRG) was downgraded by Royal Bank of Canada from an “outperform” rating to a “sector perform” rating in a research note issued to investors on Thursday. They currently have a C$1.25 target price on the stock, down from their prior target price of C$2.00. Royal Bank of Canada’s price target would indicate a potential upside of 8.70% from the company’s previous close.
Several other analysts also recently weighed in on the company. Raymond James Financial decreased their target price on Western Energy Services from C$1.40 to C$1.20 and set a “market perform” rating for the company in a research note on Wednesday, December 6th. GMP Securities decreased their target price on Western Energy Services from C$1.50 to C$1.25 in a research note on Friday, October 27th. TD Securities reduced their price objective on Western Energy Services from C$1.50 to C$1.40 and set a “hold” rating for the company in a research report on Wednesday, October 18th. Finally, Canaccord Genuity set a C$1.50 price objective on Western Energy Services and gave the stock a “hold” rating in a research report on Monday, September 25th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of C$1.98.
Shares of Western Energy Services (WRG) traded up C$0.06 during trading hours on Thursday, reaching C$1.15. The company had a trading volume of 256,317 shares, compared to its average volume of 173,511. Western Energy Services has a 1 year low of C$0.96 and a 1 year high of C$3.52.
Western Energy Services Company Profile
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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