Western Energy Services (TSE:WRG) Share Price Passes Above 50 Day Moving Average – What’s Next?

Western Energy Services Corp. (TSE:WRG) passed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of C$2.56 and traded as high as C$3.14. Western Energy Services shares last traded at C$3.14, with a volume of 230 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, ATB Cormark Capital Markets cut their price target on shares of 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 research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of C$2.50.

Western Energy Services Stock Performance

The stock has a 50-day moving average price of C$2.56 and a 200 day moving average price of C$2.25. 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 capitalization of C$106.27 million, a price-to-earnings ratio of -4.13, a P/E/G ratio of 0.09 and a beta of 0.48.

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.