Trican Well Service (TSE:TCW) Reaches New 1-Year High – Here’s Why

Trican Well Service Ltd. (TSE:TCW)’s stock price reached a new 52-week high during trading on Wednesday . The company traded as high as C$6.44 and last traded at C$6.34, with a volume of 829494 shares traded. The stock had previously closed at C$6.16.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. TD Securities dropped their price objective on Trican Well Service from C$6.00 to C$5.50 and set a “hold” rating for the company in a research note on Wednesday, October 29th. ATB Capital set a C$7.00 target price on Trican Well Service and gave the company an “outperform” rating in a research report on Friday, December 5th. Royal Bank Of Canada boosted their price target on shares of Trican Well Service from C$7.00 to C$7.50 and gave the stock an “outperform” rating in a research note on Thursday, October 9th. Finally, Raymond James Financial lowered shares of Trican Well Service from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, December 9th. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of C$6.50.

Trican Well Service Stock Performance

The stock’s 50-day simple moving average is C$5.82 and its 200 day simple moving average is C$5.76. The company has a market capitalization of C$1.35 billion, a PE ratio of 11.34, a P/E/G ratio of 0.22 and a beta of 0.04. 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 (TSE:TCW) last issued its earnings results on Tuesday, October 28th. The company reported C$0.15 EPS for the quarter. Trican Well Service had a net margin of 11.52% and a return on equity of 21.68%. The firm had revenue of C$300.59 million during the quarter.

Trican Well Service Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 31st were issued a $0.055 dividend. The ex-dividend date was Friday, December 12th. This represents a $0.22 dividend on an annualized basis and a dividend yield of 3.5%. Trican Well Service’s dividend payout ratio is presently 35.71%.

Insider Activity

In other Trican Well Service news, Director Thomas Malcolm Alford bought 5,000 shares of the firm’s stock in a transaction that occurred on Friday, October 31st. The stock was purchased at an average price of C$5.22 per share, for a total transaction of C$26,100.00. Following the completion of the purchase, the director directly owned 45,000 shares in the company, valued at C$234,900. This trade represents a 12.50% increase in their ownership of the stock. Also, insider Bradley Peter David Fedora purchased 7,550 shares of the company’s stock in a transaction on Monday, November 3rd. The stock was bought at an average price of C$5.26 per share, for a total transaction of C$39,713.00. Following the completion of the purchase, the insider directly owned 7,550 shares of the company’s stock, valued at C$39,713. The trade was a ∞ increase in their ownership of the stock. Insiders have bought a total of 15,000 shares of company stock worth $78,602 in the last three months. Corporate insiders own 0.62% of the company’s stock.

About Trican Well Service

Trican Well Service Ltd is an equipment services company. It provides products, equipment, services, and technology for use in the drilling, completion, stimulation, and reworking of oil and gas wells primarily through its continuing pressure pumping operations in Canada. The company offers services related to coiled tubing, pipeline service, cementing, fracturing and reservoir solutions.