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

Western Energy Services Corp. (TSE:WRG) passed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of C$2.20 and traded as high as C$2.53. Western Energy Services shares last traded at C$2.53, with a volume of 1,604 shares.

Wall Street Analyst Weigh In

Separately, ATB Cormark Capital Markets decreased their price target on Western Energy Services from C$2.75 to C$2.50 and set a “sector perform” rating for the company in a research report on Friday, December 19th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of C$2.50.

Western Energy Services Trading Down 0.8%

The company has a quick ratio of 1.46, a current ratio of 1.82 and a debt-to-equity ratio of 37.49. The firm has a market cap of C$85.62 million, a P/E ratio of -13.32, a price-to-earnings-growth ratio of 0.09 and a beta of 0.52. The firm’s 50-day simple moving average is C$2.20 and its 200 day simple moving average is C$2.13.

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.