Western Energy Services (WRG) Given New C$0.90 Price Target at Canaccord Genuity

Western Energy Services (TSE:WRG) had its target price decreased by Canaccord Genuity from C$1.00 to C$0.90 in a report published on Tuesday.

A number of other equities analysts also recently commented on WRG. CIBC cut their price objective on Western Energy Services from C$2.50 to C$2.00 in a report on Friday, July 20th. TD Securities cut their price objective on Western Energy Services from C$1.20 to C$1.10 and set a hold rating on the stock in a report on Thursday, July 26th. Cormark cut their price objective on Western Energy Services from C$1.35 to C$1.10 in a report on Friday, July 27th. Finally, Royal Bank of Canada cut their price objective on Western Energy Services from C$1.50 to C$1.25 and set a sector perform rating on the stock in a report on Friday, July 27th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of C$1.15.

Shares of TSE:WRG opened at C$0.76 on Tuesday. Western Energy Services has a 12-month low of C$0.69 and a 12-month high of C$1.43.

Western Energy Services (TSE:WRG) last issued its quarterly earnings results on Wednesday, July 25th. The company reported C($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C($0.15) by C($0.02). Western Energy Services had a negative return on equity of 12.39% and a negative net margin of 21.20%. The business had revenue of C$33.14 million during the quarter, compared to analyst estimates of C$33.60 million.

In other news, Director Ronald Mathison acquired 1,074,500 shares of the business’s stock in a transaction dated Monday, August 20th. The shares were bought at an average cost of C$0.90 per share, for a total transaction of C$967,050.00.

About Western Energy Services

Western Energy Services Corp. operates as an oilfield service company in Canada and the United States. The company operates through Contract Drilling and Production Services segments. The Contract Drilling segment operates drilling rigs and related ancillary equipment. It operates a fleet of 56 drilling rigs, including 50 in Canada and 6 in the United States.

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