ATB Capital Has Lowered Expectations for Western Energy Services (TSE:WRG) Stock Price

Western Energy Services (TSE:WRG) had its price target decreased by research analysts at ATB Capital from C$2.75 to C$2.50 in a research report issued on Friday,BayStreet.CA reports. The firm currently has a “sector perform” rating on the stock. ATB Capital’s price objective suggests a potential upside of 21.36% from the stock’s previous close.

Western Energy Services Price Performance

Shares of Western Energy Services stock traded down C$0.06 during trading hours on Friday, reaching C$2.06. The stock had a trading volume of 1,040 shares, compared to its average volume of 5,355. The stock’s 50 day moving average is C$2.10 and its 200 day moving average is C$2.11. The company has a current ratio of 1.82, a quick ratio of 1.46 and a debt-to-equity ratio of 37.49. Western Energy Services has a twelve month low of C$1.85 and a twelve month high of C$3.10. The firm has a market capitalization of C$69.72 million, a PE ratio of -10.84, a PEG ratio of 0.09 and a beta of 0.41.

Western Energy Services (TSE:WRG) last announced its quarterly earnings results on Tuesday, October 21st. The company reported C($0.07) earnings per share 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%. Equities analysts expect that Western Energy Services will post 0.1499094 earnings per share for the current fiscal year.

Insider Transactions at Western Energy Services

In related news, insider Sime Armoyan bought 12,400 shares of the company’s stock in a transaction dated Tuesday, October 21st. The shares were acquired at an average price of C$2.03 per share, for a total transaction of C$25,172.00. Following the completion of the transaction, the insider directly owned 6,920,256 shares in the company, valued at C$14,048,119.68. This trade represents a 0.18% increase in their ownership of the stock. 32.65% of the stock is currently owned by insiders.

About Western Energy Services

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.