Trican Well Service (TSE:TCW) Reaches New 12-Month High – Here’s Why

Trican Well Service Ltd. (TSE:TCW)’s share price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$6.85 and last traded at C$6.81, with a volume of 93694 shares. The stock had previously closed at C$6.78.

Analyst Ratings Changes

TCW has been the subject of a number of recent research reports. Royal Bank Of Canada boosted their price objective on shares of Trican Well Service from C$7.00 to C$7.50 and gave the company an “outperform” rating in a research report on Thursday, October 9th. ATB Capital set a C$7.00 target price on Trican Well Service and gave the company an “outperform” rating in a report on Friday, December 5th. Raymond James Financial cut Trican Well Service from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, December 9th. Finally, TD Securities reduced 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 report on Wednesday, October 29th. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of C$6.50.

Trican Well Service Price Performance

The company has a debt-to-equity ratio of 5.89, a quick ratio of 1.75 and a current ratio of 2.62. The stock has a market capitalization of C$1.45 billion, a price-to-earnings ratio of 12.18, a price-to-earnings-growth ratio of 0.22 and a beta of 0.04. The business’s 50 day simple moving average is C$6.01 and its 200-day simple moving average is C$5.84.

Trican Well Service (TSE:TCW) last released its quarterly earnings results on Tuesday, October 28th. The company reported C$0.15 earnings per share for the quarter. The company had revenue of C$300.59 million for the quarter. Trican Well Service had a return on equity of 21.68% and a net margin of 11.52%.

Trican Well Service Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 31st were given a dividend of $0.055 per share. This represents a $0.22 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date was Friday, December 12th. Trican Well Service’s payout ratio is 35.71%.

Insider Buying and Selling at Trican Well Service

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

Trican Well Service Company Profile

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.