Western Energy Services (WRG) Price Target Lowered to C$0.90 at Canaccord Genuity

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Western Energy Services (TSE:WRG) had its price objective reduced by Canaccord Genuity from C$1.00 to C$0.90 in a research report sent to investors on Tuesday.

WRG has been the subject of several other research reports. CIBC reduced their target price on shares of Western Energy Services from C$2.50 to C$2.00 in a report on Friday, July 20th. Cormark reduced their target price on shares of Western Energy Services from C$1.35 to C$1.10 in a report on Friday, July 27th. Royal Bank of Canada reduced their target price on shares of Western Energy Services from C$1.50 to C$1.25 and set a sector perform rating for the company in a report on Friday, July 27th. Finally, TD Securities reduced their target price on shares of Western Energy Services from C$1.20 to C$1.10 and set a hold rating for the company in a report on Thursday, July 26th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Western Energy Services has an average rating of Hold and an average price target of C$1.15.

Shares of WRG stock opened at C$0.73 on Tuesday. Western Energy Services has a 52 week low of C$0.69 and a 52 week high of C$1.43.

Western Energy Services (TSE:WRG) last announced its earnings results on Wednesday, July 25th. The company reported C($0.17) EPS for the quarter, missing the consensus estimate of C($0.15) by C($0.02). The company had revenue of C$33.14 million for the quarter, compared to the consensus estimate of C$33.60 million. Western Energy Services had a negative return on equity of 12.39% and a negative net margin of 21.20%.

In other Western Energy Services news, Director Ronald Mathison acquired 1,074,500 shares of the company’s stock in a transaction on Monday, August 20th. The stock was acquired at an average price of C$0.90 per share, for a total transaction of C$967,050.00.

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 operates drilling rigs and related ancillary equipment. It operates a fleet of 56 drilling rigs, including 50 in Canada and 6 in the United States.

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Analyst Recommendations for Western Energy Services (TSE:WRG)

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