Western Energy Services (TSE:WRG) Stock Price Passes Above 50 Day Moving Average – Here’s What Happened

Western Energy Services Corp. (TSE:WRG) shares passed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of C$2.68 and traded as high as C$3.20. Western Energy Services shares last traded at C$3.12, with a volume of 3,902 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, ATB Cormark Capital Markets decreased their price target on shares of 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 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 price target of C$2.50.

Western Energy Services Trading Up 2.3%

The company has a debt-to-equity ratio of 37.49, a quick ratio of 1.46 and a current ratio of 1.82. The business’s 50 day moving average price is C$2.68 and its 200-day moving average price is C$2.30. The firm has a market cap of C$105.59 million, a price-to-earnings ratio of -4.11, a price-to-earnings-growth ratio of 0.09 and a beta of 0.48.

Western Energy Services Company Profile

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.