Western Energy Services Corp (TSE:WRG)’s share price dropped 4.7% during trading on Wednesday . The company traded as low as C$1.23 and last traded at C$1.23. Approximately 80,339 shares changed hands during trading, a decline of 66% from the average daily volume of 234,900 shares. The stock had previously closed at C$1.29.
WRG has been the topic of a number of analyst reports. Canaccord Genuity reduced their target price on shares of Western Energy Services Corp from C$1.80 to C$1.60 in a research note on Friday, July 28th. CIBC reduced their target price on shares of Western Energy Services Corp from C$4.25 to C$3.25 in a research note on Thursday, July 20th. Finally, Raymond James Financial, Inc. reduced their target price on shares of Western Energy Services Corp from C$1.85 to C$1.40 and set a “market perform” rating on the stock in a research note on Tuesday, August 22nd. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of C$2.69.
The company’s market capitalization is $87.82 million. The firm’s 50 day moving average price is $1.25 and its 200 day moving average price is $1.71.
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About Western Energy Services Corp
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 provides contract drilling services. It operates a fleet of 56 drilling rigs and associated equipment, including 51 in Canada and 5 in the United States.
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