Trican Well Service (TSE:TCW) Stock Price Up 2.9% Following Analyst Upgrade

Trican Well Service Ltd. (TSE:TCW)’s stock price rose 2.9% during trading on Friday 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$5.40 and last traded at C$5.35. Approximately 172,981 shares changed hands during trading, a decline of 69% from the average daily volume of 559,943 shares. The stock had previously closed at C$5.20.

Several other analysts have also recently issued reports on TCW. 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 research note on Friday. Raymond James Financial upgraded Trican Well Service from a “market perform” rating to an “outperform” rating and increased their price objective for the company from C$5.00 to C$6.50 in a research note on Friday. TD Securities increased their price objective on Trican Well Service from C$4.75 to C$5.50 and gave the company a “hold” rating in a research note on Friday. National Bankshares increased their price objective on Trican Well Service from C$5.75 to C$6.50 and gave the company a “sector perform” rating in a research note on Friday. Finally, Royal Bank Of Canada increased their price objective on Trican Well Service from C$5.50 to C$6.00 and gave the company an “outperform” rating in a research note on Thursday, May 22nd. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of C$6.21.

Trican Well Service Stock Performance

The firm has a fifty day simple moving average of C$4.42 and a 200-day simple moving average of C$4.57. The company has a market cap of C$1.02 billion, a PE ratio of 9.57, a price-to-earnings-growth ratio of 0.22 and a beta of 1.73. The company has a quick ratio of 1.75, a current ratio of 2.62 and a debt-to-equity ratio of 5.89.

Trican Well Service Announces Dividend

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