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

Western Energy Services (TSE:WRG) had its price target reduced by Stifel Nicolaus from C$3.00 to C$2.75 in a research note issued to investors on Thursday morning, BayStreet.CA reports. Stifel Nicolaus currently has a hold rating on the stock.

Western Energy Services Price Performance

TSE WRG opened at C$2.80 on Thursday. The stock has a fifty day moving average of C$2.71 and a 200-day moving average of C$2.90. The stock has a market capitalization of C$94.75 million, a P/E ratio of -14.00, a price-to-earnings-growth ratio of 0.09 and a beta of 1.59. Western Energy Services has a 52 week low of C$2.22 and a 52 week high of C$3.95. The company has a debt-to-equity ratio of 38.97, a quick ratio of 1.46 and a current ratio of 1.66.

Western Energy Services (TSE:WRG) last released its earnings results on Wednesday, February 28th. The company reported C($0.06) EPS for the quarter. The firm had revenue of C$56.26 million during the quarter, compared to analyst estimates of C$55.00 million. Western Energy Services had a negative net margin of 3.09% and a negative return on equity of 2.30%. On average, equities research analysts forecast that Western Energy Services will post 0.1499094 EPS for the current year.

Insiders Place Their Bets

In related news, insider Sime Armoyan purchased 698,700 shares of the stock in a transaction dated Friday, March 1st. The stock was bought at an average cost of C$2.60 per share, with a total value of C$1,816,340.52. Over the last quarter, insiders have purchased 873,000 shares of company stock worth $2,295,656. Insiders own 32.65% of the company’s stock.

About Western Energy Services

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.