Trican Well Service (TSE:TCW) Stock Price Crosses Above 200-Day Moving Average – Here’s Why

Trican Well Service Ltd. (TSE:TCW) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$4.80 and traded as high as C$6.00. Trican Well Service shares last traded at C$5.96, with a volume of 205,960 shares trading hands.

Analysts Set New Price Targets

TCW has been the topic of several analyst reports. Raymond James Financial upgraded shares of Trican Well Service from a “hold” rating to a “moderate buy” rating and upped their price target for the company from C$5.00 to C$6.50 in a report on Friday, July 4th. Royal Bank Of Canada boosted their target price on Trican Well Service from C$5.50 to C$6.00 and gave the company an “outperform” rating in a research report on Thursday, May 22nd. ATB Capital increased their price target on Trican Well Service from C$5.50 to C$6.50 and gave the stock an “outperform” rating in a report on Friday, July 4th. BMO Capital Markets boosted their price objective on Trican Well Service from C$5.00 to C$6.00 and gave the company an “outperform” rating in a report on Friday, July 4th. Finally, TD Securities increased their target price on Trican Well Service from C$4.75 to C$5.50 and gave the stock a “hold” rating in a research note on Friday, July 4th. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$6.17.

Trican Well Service Trading Up 0.3%

The company has a debt-to-equity ratio of 5.89, a current ratio of 2.62 and a quick ratio of 1.75. The firm has a market capitalization of C$1.06 billion, a PE ratio of 11.04, a price-to-earnings-growth ratio of 0.22 and a beta of 0.70. The stock’s 50-day moving average price is C$5.55 and its 200 day moving average price is C$4.80.

Trican Well Service Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 30th will be issued a $0.055 dividend. The ex-dividend date is Friday, September 12th. This represents a $0.22 annualized dividend and a dividend yield of 3.7%. This is a positive change from Trican Well Service’s previous quarterly dividend of $0.05. Trican Well Service’s dividend payout ratio (DPR) is currently 35.19%.

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.