Western Energy Services Corp (TSE:WRG)’s share price rose 0.9% during mid-day trading on Wednesday . The stock traded as high as C$1.12 and last traded at C$1.09. Approximately 199,300 shares traded hands during trading, an increase of 15% from the average daily volume of 173,171 shares. The stock had previously closed at C$1.08.
WRG has been the topic of several research analyst reports. Royal Bank of Canada reduced their target price on Western Energy Services from C$2.50 to C$2.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 18th. GMP Securities reduced their target price on Western Energy Services from C$1.50 to C$1.25 in a research note on Friday, October 27th. TD Securities reduced their target price on Western Energy Services from C$1.50 to C$1.40 and set a “hold” rating on the stock in a research note on Wednesday, October 18th. Raymond James Financial reduced their target price on Western Energy Services 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. Finally, Canaccord Genuity set a C$1.50 target price on Western Energy Services and gave the company a “hold” rating in a research note on Monday, September 25th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of C$2.09.
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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.
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