Trican Well Service (TSE:TCW) Sets New 52-Week High – Here’s Why

Trican Well Service Ltd. (TSE:TCW)’s share 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.

Analyst Ratings Changes

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

Trican Well Service Stock Performance

The firm has a market cap of C$1.32 billion, a price-to-earnings ratio of 11.07, a PEG ratio of 0.22 and a beta of 0.04. The stock’s fifty day moving average is C$5.87 and its two-hundred day moving average is C$5.78. 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 announced its earnings results on Tuesday, October 28th. The company reported C$0.15 earnings per share for the quarter. The firm 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 business also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 31st were paid a $0.055 dividend. This represents a $0.22 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend was Friday, December 12th. Trican Well Service’s dividend payout ratio is currently 35.71%.

Insider Activity at Trican Well Service

In related news, Director Thomas Malcolm Alford acquired 5,000 shares of the stock in a transaction that occurred on Friday, October 31st. The shares were acquired 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 of the company’s stock, valued at C$234,900. The trade was a 12.50% increase in their ownership of the stock. Also, insider Bradley Peter David Fedora bought 7,550 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The shares were purchased at an average cost of C$5.26 per share, for a total transaction of C$39,713.00. Following the acquisition, the insider owned 7,550 shares of the company’s stock, valued at C$39,713. This represents a ∞ increase in their ownership of the stock. Insiders bought 15,000 shares of company stock valued at $78,602 over the last quarter. 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.