Western Energy Services (OTCMKTS:WEEEF) Stock Price Up 13.5% – Here’s What Happened

Western Energy Services Corp. (OTCMKTS:WEEEF) was up 13.5% during trading on Thursday. The company traded as high as $2.76 and last traded at $2.7580. Approximately 1,124 shares traded hands during mid-day trading, an increase of 1,904% from the average session volume of 56 shares. The stock had previously closed at $2.43.

Western Energy Services Price Performance

The company has a debt-to-equity ratio of 0.28, a current ratio of 1.63 and a quick ratio of 1.63. The stock’s 50 day simple moving average is $2.42 and its two-hundred day simple moving average is $2.34. The stock has a market cap of $93.36 million, a price-to-earnings ratio of -5.01 and a beta of 0.22.

Western Energy Services (OTCMKTS:WEEEF) last announced its quarterly earnings results on Tuesday, July 28th. The company reported ($0.09) earnings per share (EPS) for the quarter. The business had revenue of $27.87 million during the quarter. Western Energy Services had a negative net margin of 12.55% and a negative return on equity of 0.18%.

About Western Energy Services

Western Energy Services Corp. is a Canadian oilfield services company that provides contract drilling and well servicing to exploration and production companies. Its activities support the development, maintenance and abandonment of oil and natural gas wells.

The company’s contract drilling operations are conducted through Horizon Drilling, which operates drilling rigs designed for conventional and horizontal drilling programs. Its well servicing business operates through Eagle Well Servicing and provides workover, completion, maintenance and related services for producing and developing wells.

Western Energy Services primarily serves customers in the Western Canadian Sedimentary Basin, including oil and gas-producing regions of Alberta, British Columbia and Saskatchewan.