Western Energy Services (TSE:WRG) Price Target Lowered to C$2.75 at Stifel Nicolaus

Western Energy Services (TSE:WRG) had its price target dropped by equities researchers at Stifel Nicolaus from C$3.00 to C$2.75 in a report released on Thursday, BayStreet.CA reports. The brokerage presently has a “hold” rating on the stock. Stifel Nicolaus’ price target would suggest a potential downside of 1.79% from the company’s current price.

Western Energy Services Price Performance

Shares of WRG stock remained flat at C$2.80 during midday trading on Thursday. Western Energy Services has a 12-month low of C$2.20 and a 12-month high of C$3.95. The firm has a market cap of C$94.75 million, a price-to-earnings ratio of -14.00, a PEG ratio of 0.09 and a beta of 1.59. The firm’s fifty day moving average is C$2.70 and its 200 day moving average is C$2.90. The company has a quick ratio of 1.46, a current ratio of 1.66 and a debt-to-equity ratio of 38.97.

Western Energy Services (TSE:WRG) last posted its quarterly earnings data on Wednesday, February 28th. The company reported C($0.06) EPS 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. As a group, analysts forecast that Western Energy Services will post 0.1499094 EPS for the current fiscal year.

Insider Activity

In other Western Energy Services news, insider Sime Armoyan bought 62,400 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The shares were acquired at an average cost of C$2.75 per share, for a total transaction of C$171,600.00. In the last quarter, insiders acquired 873,000 shares of company stock worth $2,295,656. Corporate insiders own 32.65% of the company’s stock.

Western Energy Services Company Profile

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.