Western Energy Services (OTCMKTS:WEEEF) Stock Price Up 13.5% – Here’s Why

Western Energy Services Corp. (OTCMKTS:WEEEF)’s stock price was up 13.5% during trading on Thursday. The stock traded as high as $2.76 and last traded at $2.7580. Approximately 1,124 shares traded hands during trading, an increase of 1,904% from the average daily volume of 56 shares. The stock had previously closed at $2.43.

Western Energy Services Price Performance

The stock has a market capitalization of $86.33 million, a price-to-earnings ratio of -4.64 and a beta of 0.22. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.28. The business has a 50-day simple moving average of $2.43 and a two-hundred day simple moving average of $2.34.

Western Energy Services (OTCMKTS:WEEEF) last issued its quarterly earnings results on Tuesday, July 28th. The company reported ($0.09) earnings per share (EPS) for the quarter. Western Energy Services had a negative net margin of 12.55% and a negative return on equity of 0.18%. The firm had revenue of $27.87 million for the quarter.

Western Energy Services Company Profile

Western Energy Services Corp. is a Canadian oilfield services company that provides contract drilling and well servicing to exploration and production companies. Its activities support the development, maintenance and abandonment of oil and natural gas wells.

The company’s contract drilling operations are conducted through Horizon Drilling, which operates drilling rigs designed for conventional and horizontal drilling programs. Its well servicing business operates through Eagle Well Servicing and provides workover, completion, maintenance and related services for producing and developing wells.

Western Energy Services primarily serves customers in the Western Canadian Sedimentary Basin, including oil and gas-producing regions of Alberta, British Columbia and Saskatchewan.