Insider Acquisition at Western Energy Services Corp.

On March 6th, 2023, Sime Armoyan, an insider at Western Energy Services Corp. (TSE:WRG), acquired a significant number of shares in the company. He purchased 75,700 shares at an average price of C$2.10 each, resulting in a total transaction value of C$158,970.00.

In addition to this recent acquisition, Sime Armoyan has been active in trading shares over the past few weeks:

• On March 4th, Armoyan bought 5,000 shares at C$2.30 per share, totaling C$11,500.00.
• On February 28th, he acquired 200 shares at C$2.35 each, costing a total of C$470.00.
• On February 26th, he purchased 800 shares at the same price of C$2.35, leading to a total of C$1,880.00.
• On February 24th, he bought 13,100 shares at C$2.35 per share, amounting to C$30,785.00.
• On February 18th, Armoyan purchased 25,000 shares at C$2.40 each, with a total cost of C$60,000.00.
• On February 13th, he acquired 25,800 shares at C$2.50 per share, totaling C$64,500.00.
• Earlier on February 7th and February 5th, he bought small amounts of 200 and 700 shares at C$2.50 each, amounting to total transactions of C$500.00 and C$1,750.00, respectively.
• On January 27th, he purchased 6,300 shares at C$2.50 each for C$15,750.00.
• Additionally, on December 30th, he acquired 4,600 shares at C$2.50 each, totaling C$11,500.00.

Market Activity

As of Friday, the stock opened at C$2.07, marking a decline of 2.8%. Western Energy Services has a market capitalization of C$70.05 million and reports a PE ratio of -9.86. The company has a current ratio of 1.82 and a debt-to-equity ratio of 37.49. The shares have fluctuated within a 52-week range of C$1.85 to C$3.31, with a fifty-day moving average of C$2.57 and a two-hundred-day moving average of C$2.69.

Analyst Insights

Analysts remain focused on Western Energy Services, with ATB Capital estimating a price target of C$3.25 and assigning a "sector perform" rating as reported in a research note on January 15th. Other analysts have similarly rated the stock as a "hold".

About the Company

Western Energy Services Corp. operates as an oilfield service company in Canada and the U.S., providing services through its Contract Drilling and Production Services segments. The Contract Drilling segment utilizes drilling rigs and equipment, while the Production Services segment focuses on well servicing rigs and associated equipment.

Acquisition, Stocks, Investment