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

Shares of Western Energy Services Corp. (TSE:WRG) passed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of C$2.26 and traded as high as C$2.55. Western Energy Services shares last traded at C$2.55, with a volume of 2,269 shares trading hands.

Analyst Ratings Changes

Separately, ATB Cormark Capital Markets lowered their target price 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 note on Friday, December 19th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of C$2.50.

Western Energy Services Stock Performance

The company has a debt-to-equity ratio of 37.49, a current ratio of 1.82 and a quick ratio of 1.46. The company has a market cap of C$86.30 million, a price-to-earnings ratio of -13.42, a price-to-earnings-growth ratio of 0.09 and a beta of 0.52. The stock has a 50-day moving average price of C$2.26 and a 200 day moving average price of C$2.15.

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.