Trican Well Service (TSE:TCW) Hits New 1-Year High After Analyst Upgrade

Trican Well Service Ltd. (TSE:TCW) shares reached a new 52-week high during mid-day trading on Saturday after BMO Capital Markets raised their price target on the stock from C$5.00 to C$6.00. BMO Capital Markets currently has an outperform rating on the stock. Trican Well Service traded as high as C$5.45 and last traded at C$5.38, with a volume of 1059842 shares traded. The stock had previously closed at C$5.20.

Several other brokerages also recently weighed in on TCW. National Bankshares upped their target price on shares of Trican Well Service from C$5.75 to C$6.50 and gave the company a “sector perform” rating in a research note on Friday. TD Securities upped their price target on shares of Trican Well Service from C$4.75 to C$5.50 and gave the company a “hold” rating in a report on Friday. Raymond James Financial raised shares of Trican Well Service from a “market perform” rating to an “outperform” rating and upped their price target for the company from C$5.00 to C$6.50 in a report on Friday. ATB Capital upped their price target on shares of Trican Well Service from C$5.50 to C$6.50 and gave the company an “outperform” rating in a report on Friday. Finally, Royal Bank Of Canada upped their price target on shares of Trican Well Service from C$5.50 to C$6.00 and gave the company an “outperform” rating in a report on Thursday, May 22nd. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of C$6.21.

Trican Well Service Stock Performance

The stock has a market cap of C$1.02 billion, a price-to-earnings ratio of 9.57, a PEG ratio of 0.22 and a beta of 1.73. The company’s 50 day simple moving average is C$4.42 and its 200 day simple moving average is C$4.57. The company has a debt-to-equity ratio of 5.89, a quick ratio of 1.75 and a current ratio of 2.62.

Trican Well Service Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 30th were paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 3.72%. The ex-dividend date of this dividend was Friday, June 13th. Trican Well Service’s payout ratio is 32.02%.

Trican Well Service Company Profile

Trican Well Service Ltd., an equipment services company, provides various specialized products, equipment, services, and technology for use in the drilling, completion, stimulation, and reworking of oil and gas wells primarily in Canada. The company offers cementing solutions, including pre-flushes and spacers, cement plugs, lost circulation, cement design, and laboratory solutions, as well as surface, intermediate, production, liner, horizontal, and remedial/squeeze cementing services.