Western Energy Services (TSE:WRG) Shares Cross Above 50-Day Moving Average – What’s Next?

Western Energy Services Corp. (TSE:WRG) shares crossed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of C$2.15 and traded as high as C$2.46. Western Energy Services shares last traded at C$2.46, with a volume of 7,754 shares changing hands.

Analyst Ratings Changes

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 investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of C$2.50.

Western Energy Services Price Performance

The stock has a market capitalization of C$83.25 million, a PE ratio of -12.95, a PEG ratio of 0.09 and a beta of 0.52. The firm’s fifty day moving average price is C$2.15 and its two-hundred day moving average price is C$2.11. The company has a quick ratio of 1.46, a current ratio of 1.82 and a debt-to-equity ratio of 37.49.

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

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.