Trican Well Service (TSE:TCW) Reaches New 52-Week High After Analyst Upgrade

Trican Well Service Ltd. (TSE:TCW)’s stock price hit a new 52-week high during 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.

Other analysts have also recently issued research reports about the company. National Bankshares lifted their target price on Trican Well Service from C$5.75 to C$6.50 and gave the stock a “sector perform” rating in a research report on Friday. Royal Bank Of Canada lifted their price target on Trican Well Service from C$5.50 to C$6.00 and gave the stock an “outperform” rating in a research report on Thursday, May 22nd. ATB Capital increased their price objective on Trican Well Service from C$5.50 to C$6.50 and gave the company an “outperform” rating in a report on Friday. Raymond James Financial upgraded shares of Trican Well Service from a “market perform” rating to an “outperform” rating and raised their target price for the stock from C$5.00 to C$6.50 in a research report on Friday. Finally, 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 research report on Friday. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$6.21.

Trican Well Service Stock Performance

The company has a market cap of C$1.02 billion, a PE ratio of 9.57, a P/E/G ratio of 0.22 and a beta of 1.73. 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’s 50-day simple moving average is C$4.42 and its 200 day simple moving average is C$4.57.

Trican Well Service Dividend Announcement

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