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

Key Points

• Trican Well Service Ltd. (TSE:TCW) reached a new 52-week high of C$5.96, with a recent trading activity reporting a volume of 140,580 shares.
• Analyst upgrades have increased the stock’s price targets, with ATB Capital raising theirs from C$5.50 to C$6.50, resulting in an overall "Moderate Buy" consensus rating.
• The company declared a quarterly dividend of C$0.05, representing an annualized yield of 3.4% and a payout ratio of 32.02%.

Trican Well Service Ltd. (TSE:TCW - Get Free Report)'s stock price hit a new 52-week high on Tuesday . The company traded as high as C$5.96 and last traded at C$5.94, with a volume of 140580 shares traded. The stock had previously closed at C$5.84.

Analyst Upgrades and Downgrades

TCW has been the topic of several research analyst reports. ATB Capital boosted their price target on shares of Trican Well Service from C$5.50 to C$6.50 and gave the company an "outperform" rating in a report on Friday, July 4th. BMO Capital Markets lifted their price target 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. Royal Bank Of Canada lifted their target price on shares of 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. Raymond James Financial upgraded shares of Trican Well Service from a "hold" rating to a "moderate buy" rating and raised their price target for the company from C$5.00 to C$6.50 in a report on Friday, July 4th. Finally, National Bankshares upped their price objective on shares of Trican Well Service from C$5.75 to C$6.50 and gave the stock a "sector perform" rating in a report on Friday, July 4th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Trican Well Service has an average rating of "Moderate Buy" and a consensus target price of C$6.17.

Trican Well Service Stock Performance

The firm has a fifty day moving average of C$5.15 and a 200-day moving average of C$4.67. The company has a quick ratio of 1.75, a current ratio of 2.62 and a debt-to-equity ratio of 5.89. The firm has a market cap of C$1.12 billion, a P/E ratio of 10.58, a PEG ratio of 0.22 and a beta of 1.73.

Trican Well Service Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 30th were paid a $0.05 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 3.4%. Trican Well Service's dividend payout ratio is 32.02%.

About Trican Well Service

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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