Trican Well Service (TSE:TCW) Stock Breaks Above Two Hundred Day Moving Average - Should You Sell?

Key Points

• Trican Well Service shares rose 3.8%, trading above their 200-day moving average of C$6.76 and reaching C$6.93 before closing at C$6.84.
• Analyst sentiment is moderately bullish: the stock has an average “Moderate Buy” rating and a C$7.71 target price, though Raymond James cut its target to C$6.75 while TD Securities upgraded the shares to “Strong Buy.”
• The company pays a quarterly dividend of C$0.055, equivalent to a 3.2% yield, and insiders purchased 26,000 shares worth approximately C$156,220 over the past three months.

Trican Well Service Ltd. (TSE:TCW - Get Free Report) shares crossed above its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of C$6.76 and traded as high as C$6.93. Trican Well Service shares last traded at C$6.84, with a volume of 825,390 shares.

Analyst Ratings Changes

Several research analysts have issued reports on TCW shares. TD Securities raised shares of Trican Well Service from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 30th. Raymond James Financial dropped their price objective 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 research note on Thursday, July 30th. One 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 company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of C$7.71.

Trican Well Service Trading Up 3.8%

The company has a current ratio of 1.77, a quick ratio of 1.75 and a debt-to-equity ratio of 3.24. The business has a 50 day moving average price of C$6.29 and a 200-day moving average price of C$6.76. The firm has a market capitalization of C$1.43 billion, a PE ratio of 15.91, a P/E/G ratio of 0.22 and a beta of -0.29.

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

Trican Well Service Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 30th were given a $0.0550 dividend. The ex-dividend date was Tuesday, September 15th. This represents a $0.22 annualized dividend and a yield of 3.2%. Trican Well Service's dividend payout ratio is presently 51.16%.

Insiders Place Their Bets

In related news, Director Thomas Malcolm Alford bought 5,000 shares of the firm's stock in a transaction on Friday, July 31st. The shares were bought at an average cost of C$5.88 per share, for a total transaction of C$29,400.00. Following the transaction, the director owned 50,000 shares of the company's stock, valued at approximately C$294,000. This trade represents a 11.11% increase in their ownership of the stock. Also, Director Stuart O'connor purchased 20,000 shares of the stock in a transaction dated Wednesday, September 30th. The shares were bought at an average cost of C$6.05 per share, for a total transaction of C$121,000.00. Following the completion of the purchase, the director 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. In the last three months, insiders acquired 26,000 shares of company stock valued at $156,220. 0.62% of the stock is owned by corporate insiders.

About Trican Well Service

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.

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