Trican Well Service (TSE:TCW) Price Target Raised to C$8.50

Trican Well Service (TSE:TCW) had its price target hoisted by ATB Cormack from C$8.00 to C$8.50 in a report released on Wednesday,BayStreet reports. The firm currently has an outperform rating on the stock.

Other equities analysts have also issued research reports about the company. TD Securities raised Trican Well Service from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 30th. Raymond James Financial dropped their target price on Trican Well Service from C$7.50 to C$6.75 and set a “market perform” rating for the company in a report on Thursday, July 30th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of C$8.29.

Trican Well Service Trading Down 0.9%

Shares of Trican Well Service stock opened at C$6.99 on Wednesday. The stock has a market cap of C$1.42 billion, a P/E ratio of 13.71, a P/E/G ratio of 0.22 and a beta of -0.29. The stock’s 50 day simple moving average is C$6.35 and its 200-day simple moving average is C$6.78. Trican Well Service has a 1-year low of C$5.19 and a 1-year high of C$8.40. The company has a debt-to-equity ratio of 14.89, a current ratio of 1.90 and a quick ratio of 1.75.

Trican Well Service (TSE:TCW) last posted its quarterly earnings results on Tuesday, October 27th. The company reported C$0.23 earnings per share (EPS) for the quarter. Trican Well Service had a return on equity of 15.61% and a net margin of 8.95%. The business had revenue of C$338.30 million during the quarter.

Trican Well Service Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 30th were paid a dividend of $0.0550 per share. This represents a $0.22 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend was Tuesday, September 15th. Trican Well Service’s dividend payout ratio (DPR) is 43.14%.

Insider Buying and Selling at Trican Well Service

In related news, Director Stuart O’connor purchased 20,000 shares of Trican Well Service stock in a transaction dated Wednesday, September 30th. The shares were acquired at an average cost of C$6.05 per share, with a total value of C$121,000.00. Following the purchase, the director owned 26,250 shares of the company’s stock, valued at approximately C$158,812.50. The trade was a 320.00% increase in their ownership of the stock. 0.62% of the stock is currently owned by corporate insiders.

Trican Well Service Company Profile

Headquartered in Calgary, Alberta, Trican supplies oil and natural gas well servicing equipment and solutions to our customers through the drilling, completion, and production cycles. Our team of technical experts provide state of the art equipment, engineering support, reservoir expertise and laboratory services through the delivery of hydraulic fracturing, cementing, coiled tubing, nitrogen services and chemical sales for the oil and gas industry in Western Canada. Trican is the largest pressure pumping service company in Canada.