Western Energy Services (TSE:WRG) Stock Price Passes Above 50 Day Moving Average – Here’s What Happened

Shares of Western Energy Services Corp. (TSE:WRG) crossed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of C$2.09 and traded as high as C$2.18. Western Energy Services shares last traded at C$2.18, with a volume of 1,230 shares trading hands.

Analysts Set New Price Targets

Separately, ATB Capital cut their target price on Western Energy Services from C$2.75 to C$2.50 and set a “sector perform” rating on the stock in a research note on Friday, December 19th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of C$2.50.

Western Energy Services Stock Up 1.4%

The company has a market cap of C$73.78 million, a P/E ratio of -11.47, a P/E/G ratio of 0.09 and a beta of 0.39. The company’s 50-day moving average is C$2.09 and its two-hundred day moving average is C$2.10. The company has a debt-to-equity ratio of 37.49, a current ratio of 1.82 and a quick ratio of 1.46.

Western Energy Services (TSE:WRG) last released its quarterly earnings data on Tuesday, October 21st. The company reported C($0.07) earnings per share (EPS) for the quarter. The business had revenue of C$50.04 million during the quarter. Western Energy Services had a negative net margin of 3.45% and a negative return on equity of 2.40%. As a group, equities analysts predict that Western Energy Services Corp. will post 0.1499094 earnings per share for the current fiscal year.

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.