CIBC Lowers Western Energy Services (WRG) Price Target to C$2.50

Western Energy Services (TSE:WRG) had its target price decreased by stock analysts at CIBC from C$2.75 to C$2.50 in a research report issued on Tuesday. CIBC’s price objective indicates a potential upside of 85.19% from the company’s previous close.

Several other equities research analysts have also recently weighed in on WRG. Canaccord Genuity set a C$1.50 price objective on Western Energy Services and gave the stock a “hold” rating in a report on Monday, September 25th. Royal Bank of Canada lowered their target price on Western Energy Services from C$2.50 to C$2.00 and set an “outperform” rating for the company in a research note on Wednesday, October 18th. TD Securities lowered their target price on Western Energy Services from C$1.50 to C$1.40 and set a “hold” rating for the company in a research note on Wednesday, October 18th. GMP Securities lowered their target price on Western Energy Services from C$1.50 to C$1.25 in a research note on Friday, October 27th. Finally, Raymond James Financial lowered 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. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of C$1.87.

Western Energy Services (WRG) traded up C$0.03 during midday trading on Tuesday, reaching C$1.35. The company’s stock had a trading volume of 954,641 shares, compared to its average volume of 682,578. Western Energy Services has a 1-year low of C$0.96 and a 1-year high of C$3.47. The stock has a market cap of $126.28, a PE ratio of -2.11 and a beta of -0.21.

Western Energy Services (TSE:WRG) last released its quarterly earnings data on Wednesday, October 25th. The company reported C($0.16) earnings per share for the quarter, missing the consensus estimate of C($0.15) by C($0.01). Western Energy Services had a negative return on equity of 12.39% and a negative net margin of 21.20%.

In related news, Director Ronald Mathison acquired 2,508,800 shares of the stock in a transaction on Friday, January 12th. The stock was acquired at an average price of C$1.32 per share, for a total transaction of C$3,311,616.00.

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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.

Analyst Recommendations for Western Energy Services (TSE:WRG)

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