Shares of CWC Energy Services Corp. (CVE:CWC) slipped below 200-day moving average Wednesday,leaving investors uneasy. Stock's average is C$0.16; it dipped to C$0.16 before closing there . Trading volume hit 41,277 shares .
CWC Energy Services has dropped 5.9% in past . Fifty-day average also at C$0.16, showing little movement. Financials show quick ratio of 3.31 and current ratio of 3.36, indicating liquidity is decent. But debt-to-equity ratio is hefty 20.44 . Could scare off investors.
With market cap of C$82.81 million and P/E ratio of 1.96, CWC Energy Services plays in tough oilfield services game. Company handles contract drilling and well servicing for oil and gas outfits across Canada and U.S. Two main segments: Contract Drilling,Production Services.
CWC has a wide fleet: 143 service rigs,including 75 single rigs,55 double rigs,and 14 slant rigs. Also runs 13 electric triple drilling rigs, depths 3,600 to 7,600 meters,plus 9 telescopic double drilling rigs,depths 3,200 to 5,000 meters. This gear helps them tackle client demands in oil and gas world.
As market shifts,investors must decide if this dip is buying chance or reason to cash out . Eyes will be on stock's performance in days ahead as analysts weigh what the 200-day breach means…
