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RBC Capital Markets announced Western Energy Services (TSE:WRG), dropping its stock price target to $2.00 today

In a report released on Wednesday October 18, 2017 RBC Capital Markets reduced the stock price target of Western Energy Services (TSE:WRG) from $2.50 to $2.00 reporting a possible upside of 0.6%.

Previously on 7/31/2017, Western Energy Services reported on Western Energy Services (TSE:WRG) reduced the target price from $1.80 to $1.60. At the time, this indicated a possible upside of 0.11%.

Just yesterday Western Energy Services (TSE:WRG) traded -0.78% lower at $1.25. Western Energy Services’s 50-day moving average is $1.25 and its 200-day moving average is $1.69. The last closing price is down -24.79% from the 200-day moving average, compared to the Standard & Poor's 500 Index which has increased 0.03% over the same time period. 18,004 shares of WRG traded hands, down from an average trading volume of 238,552

Recent Performance Chart

Western Energy Services (TSE:WRG)

Western Energy Services has 52 week low of $1.07 and a 52 week high of $3.52 and has a market capitalization of $0.

In addition to RBC Capital Markets reporting its stock price target, a total of 11 brokers have issued a research note on the company. The average stock price target is $2.50 with 0 brokers rating the stock a strong buy, 5 brokers rating the stock a buy, 5 brokers rating the stock a hold, 1 broker rating the stock a underperform, and finally 0 brokers rating the stock a sell.

Brief Synopsis On Western Energy Services (TSE:WRG)

Western Energy Services Corp. is a Canada-based oilfield service company. The Company is focused on three core business lines: contract drilling, well servicing and oilfield rental equipment services. It operates in the oilfield service industry through its contract drilling segment in Canada and the United States, and through its production services segment in Canada. The Contract drilling segment includes drilling rigs along with related ancillary equipment and provides services to oil and natural gas exploration and production companies. The Production services includes well servicing rigs and related equipment, as well as oilfield rental equipment and provides services to oil and natural gas exploration and production companies and in the case of oilfield rental equipment, to other oilfield service companies as well. It provides contract drilling services through its division, Horizon Drilling in Canada, and its subsidiary, Stoneham Drilling Corporation, in the United States.

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