Western Energy Services (TSE:WRG) Reaches New 1-Year High – Here’s Why

Western Energy Services Corp. (TSE:WRG) hit a new 52-week high on Thursday. The company traded as high as C$3.92 and last traded at C$3.91, with a volume of 13,202 shares traded. The stock had previously closed at C$3.40.

Western Energy Services Stock Up 15.6%

The company has a quick ratio of 1.46, a current ratio of 1.82 and a debt-to-equity ratio of 37.49. The firm has a 50 day simple moving average of C$3.32 and a 200-day simple moving average of C$3.23. The stock has a market cap of C$133.04 million, a P/E ratio of -5.17, a price-to-earnings-growth ratio of 0.09 and a beta of -0.26.

Western Energy Services (TSE:WRG) last released its quarterly earnings data on Tuesday, July 28th. The company reported C($0.12) earnings per share (EPS) for the quarter. Western Energy Services had a negative net margin of 3.45% and a negative return on equity of 2.40%. The business had revenue of C$38.58 million during the quarter. On average, equities research analysts forecast that Western Energy Services Corp. will post 0.15 earnings per share for the current fiscal year.

Western Energy Services Company Profile

Western Energy Services Corp operates as an oilfield service industry in Canada and the United States of America. The company functions its drilling services through two segments namely, Contract drilling and Production services. Its contract drilling segment is involved in drilling rigs with ancillary equipment as well as provides such services to crude oil and natural gas exploration and production companies. The production service segment includes well servicing rigs and related equipment, and oilfield rental equipment.