Western Energy Services (TSE:WRG) Price Target Cut to C$2.75

Western Energy Services (TSE:WRG) had its target price cut by stock analysts at Stifel Nicolaus from C$3.00 to C$2.75 in a note issued to investors on Thursday, BayStreet.CA reports. The firm presently has a “hold” rating on the stock. Stifel Nicolaus’ price target indicates a potential downside of 1.79% from the stock’s current price.

Western Energy Services Stock Performance

WRG opened at C$2.80 on Thursday. The firm has a market cap of C$94.75 million, a P/E ratio of -14.00, a PEG ratio of 0.09 and a beta of 1.59. Western Energy Services has a 1-year low of C$2.22 and a 1-year high of C$3.95. The company has a 50 day simple moving average of C$2.71 and a two-hundred day simple moving average of C$2.90. The company has a debt-to-equity ratio of 38.97, a current ratio of 1.66 and a quick ratio of 1.46.

Western Energy Services (TSE:WRG) last posted its quarterly earnings results on Wednesday, February 28th. The company reported C($0.06) earnings per share for the quarter. Western Energy Services had a negative return on equity of 2.30% and a negative net margin of 3.09%. The firm had revenue of C$56.26 million during the quarter, compared to the consensus estimate of C$55.00 million. Equities analysts forecast that Western Energy Services will post 0.1499094 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Sime Armoyan bought 698,700 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was purchased at an average price of C$2.60 per share, for a total transaction of C$1,816,340.52. Over the last quarter, insiders purchased 873,000 shares of company stock worth $2,295,656. 32.65% of the stock is owned by insiders.

About Western Energy Services

Western Energy Services Corp. operates as an oilfield service company in Canada and the United States. It operates through Contract Drilling and Production Services segments. The Contract Drilling segment provides contract drilling services using drilling rigs and auxiliary equipment. The Production Services segment offers well servicing rig and related equipment, as well as rental equipment services.