ATB Capital Lowers Western Energy Services (TSE:WRG) Price Target to C$2.50

Western Energy Services (TSE:WRG) had its target price cut by equities researchers at ATB Capital from C$2.75 to C$2.50 in a research report issued on Friday,BayStreet.CA reports. The firm presently has a “sector perform” rating on the stock. ATB Capital’s target price would suggest a potential upside of 21.36% from the stock’s previous close.

Western Energy Services Stock Performance

Shares of Western Energy Services stock opened at C$2.06 on Friday. The stock has a market cap of C$69.72 million, a price-to-earnings ratio of -10.84, a P/E/G ratio of 0.09 and a beta of 0.41. Western Energy Services has a twelve month low of C$1.85 and a twelve month high of C$3.10. The company’s fifty day moving average is C$2.10 and its 200 day moving average is C$2.10. The company has a quick ratio of 1.46, a current ratio of 1.82 and a debt-to-equity ratio of 37.49.

Western Energy Services (TSE:WRG) last announced its earnings results on Tuesday, October 21st. The company reported C($0.07) earnings per share (EPS) for the quarter. The company had revenue of C$50.04 million for the quarter. Western Energy Services had a negative return on equity of 2.40% and a negative net margin of 3.45%. Sell-side analysts forecast that Western Energy Services will post 0.1499094 EPS for the current year.

Insider Activity at Western Energy Services

In related news, insider Sime Armoyan bought 12,400 shares of Western Energy Services stock in a transaction that occurred on Tuesday, October 21st. The shares were acquired at an average cost of C$2.03 per share, for a total transaction of C$25,172.00. Following the completion of the acquisition, the insider directly owned 6,920,256 shares of the company’s stock, valued at approximately C$14,048,119.68. The trade was a 0.18% increase in their position. 32.65% of the stock is currently owned by corporate insiders.

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.