Western Energy Services (WRG-T) Stock Predictions - Stockchase
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Western Energy Services (WRG-T)

ON STOCKCHASE SINCE Aug 2011

Offers a complete line of acidizing systems, solvent systems and chemical solutions to remediate and enhance the production of oil wells.

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Western Energy Services

WRG-T

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Western Energy Services (WRG-T) SAVE Apr, 19, 2019, 9:07 am

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What the experts are saying about WRG-T



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Signal Opinion Expert
BUY

The company is very cheap in terms of price to book. Their book value was $4 at the end of June. However, they have a debt problem: $211 million of debt compared to an equity value of $369 million. He sees this as a takeover candidate especially now because he is seeing consolidation in the rig industry. When the industry turns around, this company will be very profitable. Utilizations rates go from 20% to 70% or 80% and much of the increased cash is profit. In addition, when rigs are busy, rig suppliers have pricing power. So, there can be an increase of 10x in profitability.

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The company is very cheap in terms of price to book. Their book value was $4 at the end of June. However, they have a debt problem: $211 million of debt compared to an equity value of $369 million. He sees this as a takeover candidate especially now because he is seeing consolidation in the rig industry. When the industry turns around, this company will be very profitable. Utilizations rates go from 20% to 70% or 80% and much of the increased cash is profit. In addition, when rigs are busy, rig suppliers have pricing power. So, there can be an increase of 10x in profitability.

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Josef Schachter

President, Schachter Asset Mana...

Price Price
$0.830
Owned Owned
Yes

DON'T BUY

He would not own this company, because the market cap is too small for the liquidity.  Their leverage is higher than their peers – 3.4 times EBITA.    

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He would not own this company, because the market cap is too small for the liquidity.  Their leverage is higher than their peers – 3.4 times EBITA.    

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Eric Nuttall

Partner & , Ninepoint Partners...

Price Price
$0.900
Owned Owned
No

PAST TOP PICK

(A Top Pick July 28, 2017. Down 23%). This is quiet money. It’s a driller. Its book value is $4.15, which is much higher than its trading price. This is a Canadian driller with only 3 rigs in the United States. Its price hasn’t improved because it is locked in Canada. The AECO price (http://www.gasalberta.com/gas-market/market-prices?p=pricing-market.htm) is about $2 but will be $2.75 to $3.00 by Q4. Similarly, the NYMEX price (https://www.eia.gov/dnav/ng/NG_PRI_FUT_S1_D.htm) was up a nickel today even as oil went down, could by $4 by Q4.

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(A Top Pick July 28, 2017. Down 23%). This is quiet money. It’s a driller. Its book value is $4.15, which is much higher than its trading price. This is a Canadian driller with only 3 rigs in the United States. Its price hasn’t improved because it is locked in Canada. The AECO price (http://www.gasalberta.com/gas-market/market-prices?p=pricing-market.htm) is about $2 but will be $2.75 to $3.00 by Q4. Similarly, the NYMEX price (https://www.eia.gov/dnav/ng/NG_PRI_FUT_S1_D.htm) was up a nickel today even as oil went down, could by $4 by Q4.

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Josef Schachter

President, Schachter Asset Mana...

Price Price
$1.160
Owned Owned
No

PAST TOP PICK

(A Top Pick June 12, 2017. Down 48.76%). This is a driller. Oil service stocks are always more volatile. The drillers are all cheap now. This is on his Action Alert buy list. The company’s book value is $4.19. He has a $2.50 one-year target. This stock traded at $11 in 2014. In bull markets these stocks have a high beta. Western doesn’t have a debt problem. It owes $265 debt compared to $386 in equity. This is lower than Calfrac and Precision. Western’s biggest lender is AIMCO, which knows the oil industry well. AIMCO is also an investor in Western.

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(A Top Pick June 12, 2017. Down 48.76%). This is a driller. Oil service stocks are always more volatile. The drillers are all cheap now. This is on his Action Alert buy list. The company’s book value is $4.19. He has a $2.50 one-year target. This stock traded at $11 in 2014. In bull markets these stocks have a high beta. Western doesn’t have a debt problem. It owes $265 debt compared to $386 in equity. This is lower than Calfrac and Precision. Western’s biggest lender is AIMCO, which knows the oil industry well. AIMCO is also an investor in Western.

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Josef Schachter

President, Schachter Asset Mana...

Price Price
$1.100
Owned Owned
No

PAST TOP PICK

(A Top Pick Jun 12/17, Down 32%)  This was a top pick to buy some time after the show.  It did quite well after the weakness he was looking for in order to buy.  They are a Canadian driller.

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(A Top Pick Jun 12/17, Down 32%)  This was a top pick to buy some time after the show.  It did quite well after the weakness he was looking for in order to buy.  They are a Canadian driller.

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Josef Schachter

President, Schachter Asset Mana...

Price Price
$1.350
Owned Owned
No

BUY on WEAKNESS

Mostly in Canada, but trading significantly below $4, so it is a tax loss situation.  It is cheap here.  It is smaller cap than the others.

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Mostly in Canada, but trading significantly below $4, so it is a tax loss situation.  It is cheap here.  It is smaller cap than the others.

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Josef Schachter

President, Schachter Asset Mana...

Price Price
$1.300
Owned Owned
Unknown

WATCH
Western Energy Services(WRG-T) 

September 18, 2017

It is a very cheap driller.  $5.53 book value at the end of last year.  They are in a break even situation.  He sees it doing much better.  He likes the stock and covers it.  There will be a great opportunity to buy it likely later in the year.

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It is a very cheap driller.  $5.53 book value at the end of last year.  They are in a break even situation.  He sees it doing much better.  He likes the stock and covers it.  There will be a great opportunity to buy it likely later in the year.

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Josef Schachter

President, Schachter Asset Mana...

Price Price
$1.290
Owned Owned
Unknown

TOP PICK

This is a driller. 51 rigs in Canada and 5 in the US. They also have 66 service rigs. A lot of ownership by management. This could potentially be a double-digit stock. If you are able to buy this at $1.40 or less, it is going to be a great one for the next cycle. (Analysts’ price target is $2.50.)

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This is a driller. 51 rigs in Canada and 5 in the US. They also have 66 service rigs. A lot of ownership by management. This could potentially be a double-digit stock. If you are able to buy this at $1.40 or less, it is going to be a great one for the next cycle. (Analysts’ price target is $2.50.)

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Josef Schachter

President, Schachter Asset Mana...

Price Price
$1.510
Owned Owned
No

TOP PICK

They did $18.6 million EBITDA in the 1st quarter. They’re involved in contract drilling in Canada and the US, with 51 rigs in Canada and 5 in the US. They have 66 well servicing rigs. Under $2, this is a Buy, but under $1.90, it is a table pounding buy. He has a one-year target of $4.80. (Analysts’ price target is $3.50.)

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They did $18.6 million EBITDA in the 1st quarter. They’re involved in contract drilling in Canada and the US, with 51 rigs in Canada and 5 in the US. They have 66 well servicing rigs. Under $2, this is a Buy, but under $1.90, it is a table pounding buy. He has a one-year target of $4.80. (Analysts’ price target is $3.50.)

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Josef Schachter

President, Schachter Asset Mana...

Price Price
$2.035
Owned Owned
No

PAST TOP PICK

(Top Pick Apr 6/15, Down 64.70%) Same as TDG-T.  There won’t be any margin expansion going forward.

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(Top Pick Apr 6/15, Down 64.70%) Same as TDG-T.  There won’t be any margin expansion going forward.

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Eric Nuttall

Partner & , Ninepoint Partners...

Price Price
$2.220
Owned Owned
No

COMMENT
Western Energy Services(WRG-T) 

November 20, 2015

Typically service companies offer more upside than producers. If he is correct in his oil call of $55-$60, that will increase field activity because a lot of plays will work. He doesn’t see much upside above $60 in the next 1-2 years. In that environment there is still ample capacity in tier 1 drilling rigs, but companies will not have near the same pricing power as they would have coming out of a regular cycle. He is tempted on the valuation of this company, but it is not quite there for him. Liquidity can be a real issue on this one. The dividend is at risk of being cut if oil is anywhere remotely close to where we are now.

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Typically service companies offer more upside than producers. If he is correct in his oil call of $55-$60, that will increase field activity because a lot of plays will work. He doesn’t see much upside above $60 in the next 1-2 years. In that environment there is still ample capacity in tier 1 drilling rigs, but companies will not have near the same pricing power as they would have coming out of a regular cycle. He is tempted on the valuation of this company, but it is not quite there for him. Liquidity can be a real issue on this one. The dividend is at risk of being cut if oil is anywhere remotely close to where we are now.

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Eric Nuttall

Partner & , Ninepoint Partners...

Price Price
$3.500
Owned Owned
No

TOP PICK

You want to buy the higher quality rigs.  The crummiest rigs will probably not come back into service for a couple of years.  The service sector does better as you come off a bottom and the best of those are the land drillers.  These stocks do well several months ahead of the sector in general.  4.34% dividend.

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You want to buy the higher quality rigs.  The crummiest rigs will probably not come back into service for a couple of years.  The service sector does better as you come off a bottom and the best of those are the land drillers.  These stocks do well several months ahead of the sector in general.  4.34% dividend.

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Eric Nuttall

Partner & , Ninepoint Partners...

Price Price
$7.000
Owned Owned
Yes

COMMENT

He has his eye on a number of other energy service providers. This one is sort of in the middle of the pack for him. He is waiting for prices to stabilize before moving back into this area.

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He has his eye on a number of other energy service providers. This one is sort of in the middle of the pack for him. He is waiting for prices to stabilize before moving back into this area.

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Bruce Campbell

President , Stone Castle Investm...

Price Price
$5.390
Owned Owned
No

BUY

He has become fonder of this one over the last year.  The drilling service business is in an abyss, but the market has already priced this in.  It will find a new trading range between $6-$7. 

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He has become fonder of this one over the last year.  The drilling service business is in an abyss, but the market has already priced this in.  It will find a new trading range between $6-$7. 

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Robert Lauzon

Deputy Chi, Middlefield Capital ...

Price Price
$5.920
Owned Owned
Unknown

WAIT

In the drilling business with one of the better management teams and a pretty new drill fleet. If you are going to own any drillers in the Canadian space, this is one of the top 3 that you want to own. However, with the drop in oil and gas prices, it is difficult for them and you are looking at a few months of weakness. If you are not in a hurry, you can wait to accumulate. Thinks the dividend is sustainable.

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In the drilling business with one of the better management teams and a pretty new drill fleet. If you are going to own any drillers in the Canadian space, this is one of the top 3 that you want to own. However, with the drop in oil and gas prices, it is difficult for them and you are looking at a few months of weakness. If you are not in a hurry, you can wait to accumulate. Thinks the dividend is sustainable.

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Jim Huang

President, T.I.P. Wealth Manage...

Price Price
$6.510
Owned Owned
Unknown

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