Trican Well Service (TSE:TCW) Reaches New 1-Year High - Here's Why

Key Points

• Trican Well Service reached a new 52-week high, trading at C$6.32, with significant volume of 219,427 shares traded.
• Multiple analysts have increased their price targets for Trican, with estimates ranging from C$5.50 to C$6.50 and an overall consensus rating of "Moderate Buy".
• The company has recently increased its quarterly dividend to $0.055 per share, reflecting a 3.5% dividend yield and a payout ratio of 35.19%.

Trican Well Service Ltd. (TSE:TCW - Get Free Report) hit a new 52-week high on Wednesday . The company traded as high as C$6.32 and last traded at C$6.32, with a volume of 219427 shares traded. The stock had previously closed at C$6.17.

Wall Street Analyst Weigh In

TCW has been the topic of a number of recent analyst reports. National Bankshares boosted their price target 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, July 4th. TD Securities boosted their price target on Trican Well Service from C$4.75 to C$5.50 and gave the stock a "hold" rating in a research report on Friday, July 4th. ATB Capital boosted their price target on Trican Well Service from C$5.50 to C$6.50 and gave the stock an "outperform" rating in a research report on Friday, July 4th. BMO Capital Markets boosted their price target on Trican Well Service from C$5.00 to C$6.00 and gave the stock an "outperform" rating in a research report on Friday, July 4th. Finally, Raymond James Financial raised Trican Well Service from a "hold" rating to a "moderate buy" rating and boosted their price target for the stock from C$5.00 to C$6.50 in a research report on Friday, July 4th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Trican Well Service has an average rating of "Moderate Buy" and a consensus target price of C$6.17.

Trican Well Service Stock Up 2.8%

The stock's fifty day simple moving average is C$5.83 and its 200-day simple moving average is C$5.00. 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 has a market cap of C$1.13 billion, a P/E ratio of 11.74, a P/E/G ratio of 0.22 and a beta of 0.62.

Trican Well Service Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 30th were issued a dividend of $0.055 per share. This is a boost from Trican Well Service's previous quarterly dividend of $0.05. The ex-dividend date of this dividend was Friday, September 12th. This represents a $0.22 dividend on an annualized basis and a dividend yield of 3.5%. Trican Well Service's payout ratio 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.

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