In a new note to investors today, an analyst has provided a rating update for the Materials sector company, Western Energy Services (WRG). The company received a Hold rating from Raymond James’ analyst Andrew Bradford, with a C$0.50 price target.
According to TipRanks.com, Bradford ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -16.5% and a 28.6% success rate. Bradford covers the Basic Materials sector, focusing on stocks such as Essential Energy Services Ltd, Trican Well Service Ltd, and Precision Drilling.
Western Energy Services has an analyst consensus of Hold, with a price target consensus of C$0.50, implying a 25.0% upside from current levels. In a report issued on January 10, Canaccord Genuity also maintained a Hold rating on the stock with a C$0.50 price target.
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Based on Western Energy Services’ latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of C$10.08 million. In comparison, last year the company had a GAAP net loss of C$4.99 million.
Western Energy Services Corp. is an oilfield service company, which engages in the provision of contract drilling services. It operates through the Contract Drilling, and Production Services segments. The Contract Drilling segment includes drilling rigs along with related equipment.
The company’s shares closed on Thursday at C$0.40, close to its 52-week low of C$0.34.
