Western Energy Services (TSE:WRG) had its price objective lowered by stock analysts at Canaccord Genuity from C$0.55 to C$0.50 in a note issued to investors on Thursday. Canaccord Genuity’s price target would suggest a potential upside of 2.04% from the company’s previous close.
Several other research firms have also recently weighed in on WRG. CIBC cut Western Energy Services from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from C$2.00 to C$1.15 in a report on Tuesday, October 16th. Cormark restated a “buy” rating and set a C$0.90 price target on shares of Western Energy Services in a report on Friday, November 16th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Western Energy Services presently has an average rating of “Buy” and an average target price of C$1.03.
Shares of TSE:WRG traded up C$0.01 during midday trading on Thursday, hitting C$0.49. 3,500 shares of the stock were exchanged, compared to its average volume of 58,854. The company has a debt-to-equity ratio of 62.65, a quick ratio of 1.46 and a current ratio of 1.63. Western Energy Services has a 12 month low of C$0.34 and a 12 month high of C$1.43.
In other news, Director Ronald Mathison purchased 1,314,800 shares of Western Energy Services stock in a transaction dated Monday, November 26th. The shares were bought at an average cost of C$0.51 per share, for a total transaction of C$670,548.00.
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.
See Also: How a Put Option Works
Receive News & Ratings for Western Energy Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Western Energy Services and related companies with MarketBeat.com's FREE daily email newsletter.