Western Energy Services (WRG) Downgraded to “Sector Perform” at Royal Bank of Canada

Royal Bank of Canada lowered shares of Western Energy Services (TSE:WRG) from an outperform rating to a sector perform rating in a report published on Thursday. Royal Bank of Canada currently has C$1.25 price objective on the stock, down from their previous price objective of C$2.00.

Several other research firms have also recently commented on WRG. GMP Securities dropped their target price on shares of Western Energy Services from C$1.50 to C$1.25 in a research report on Friday, October 27th. TD Securities dropped their target price on shares of Western Energy Services from C$1.50 to C$1.40 and set a hold rating on the stock in a research report on Wednesday, October 18th. Raymond James Financial dropped their target price on shares of Western Energy Services from C$1.40 to C$1.20 and set a market perform rating on the stock in a research report on Wednesday, December 6th. Finally, Canaccord Genuity set a C$1.50 target price on shares of Western Energy Services and gave the stock a hold rating in a research report on Monday, September 25th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus target price of C$1.98.

Western Energy Services (TSE WRG) opened at C$1.21 on Thursday. Western Energy Services has a 1 year low of C$0.96 and a 1 year high of C$3.52. The company has a market cap of $111.53, a P/E ratio of -1.89 and a beta of -0.22.

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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 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.

Analyst Recommendations for Western Energy Services (TSE:WRG)

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