Trican Well Service (TSE:TCW) Director Buys C$121,000.00 in Stock

Key Points

• Director Stuart O’Connor purchased 20,000 Trican Well Service shares at C$6.05 each, investing C$121,000 and increasing his direct ownership by 320% to 26,250 shares.
• Trican reported quarterly revenue of C$214.6 million and earnings of C$(0.01) per share, while maintaining a quarterly dividend of C$0.055 per share, equivalent to a 3.7% yield.
• Analyst sentiment is moderately positive, with a consensus target price of C$7.71 versus the stock’s recent price near C$5.98; ratings range from Hold to Strong Buy.

Trican Well Service Ltd. (TSE:TCW - Get Free Report) Director Stuart O'connor bought 20,000 shares of the stock in a transaction on Wednesday, September 30th. The shares were acquired at an average cost of C$6.05 per share, for a total transaction of C$121,000.00. Following the acquisition, the director directly owned 26,250 shares in the company, valued at approximately C$158,812.50. This trade represents a 320.00% increase in their ownership of the stock.

Trican Well Service Stock Performance

Shares of TSE:TCW traded up C$0.03 during trading on Wednesday, hitting C$5.98. 468,902 shares of the company were exchanged, compared to its average volume of 716,234. Trican Well Service Ltd. has a 52-week low of C$5.19 and a 52-week high of C$8.40. The stock has a 50 day moving average of C$6.20 and a 200 day moving average of C$6.81. The company has a debt-to-equity ratio of 3.24, a current ratio of 1.77 and a quick ratio of 1.75. The company has a market cap of C$1.25 billion, a PE ratio of 13.91, a P/E/G ratio of 0.22 and a beta of -0.27.

Trican Well Service (TSE:TCW - Get Free Report) last announced its quarterly earnings results on Tuesday, July 28th. The company reported C($0.01) earnings per share for the quarter. The company had revenue of C$214.60 million during the quarter. Trican Well Service had a net margin of 7.60% and a return on equity of 12.81%.

Trican Well Service Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 30th will be issued a dividend of $0.0550 per share. This represents a $0.22 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend is Tuesday, September 15th. Trican Well Service's payout ratio is presently 51.16%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on TCW shares. Raymond James Financial lowered their price target on shares of Trican Well Service from C$7.50 to C$6.75 and set a "market perform" rating on the stock in a report on Thursday, July 30th. TD Securities raised shares of Trican Well Service from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 30th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of C$7.71.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.