Trican Well Service (TSE:TCW) Share Price Crosses Above 200 Day Moving Average - Time to Sell?

Key Points

• Trican Well Service shares exceeded their 200-day moving average, trading at C$5.55 after reaching a high of C$5.71, indicating positive momentum in the stock.
• Several analysts upgraded their ratings, with price targets now ranging from C$6.00 to C$7.50, suggesting a consensus rating of "Moderate Buy" with an average target price of C$6.42.
• The company declared a quarterly dividend increase to $0.055 per share, representing an annual yield of 4.0%, enhancing investor returns amidst a 35.19% payout ratio.

Shares of Trican Well Service Ltd. (TSE:TCW - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$5.13 and traded as high as C$5.71. Trican Well Service shares last traded at C$5.55, with a volume of 164,976 shares changing hands.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Raymond James Financial raised shares of Trican Well Service from a "hold" rating to a "moderate buy" rating and raised their price objective for the company from C$5.00 to C$6.50 in a research note on Friday, July 4th. National Bankshares raised their price objective on shares of Trican Well Service from C$5.75 to C$6.50 and gave the company a "sector perform" rating in a research note on Friday, July 4th. BMO Capital Markets lifted their price target on shares of 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. Royal Bank Of Canada lifted their price target on shares of Trican Well Service from C$7.00 to C$7.50 and gave the stock an "outperform" rating in a research report on Thursday, October 9th. Finally, TD Securities lifted their price target on shares of 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. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Trican Well Service currently has a consensus rating of "Moderate Buy" and an average target price of C$6.42.

Trican Well Service Trading Up 1.8%

The company has a market capitalization of C$1.18 billion, a P/E ratio of 10.28, a PEG ratio of 0.22 and a beta of 0.40. The business's 50-day moving average price is C$5.90 and its two-hundred day moving average price is C$5.13. The company has a debt-to-equity ratio of 5.89, a current ratio of 2.62 and a quick ratio of 1.75.

Trican Well Service Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 30th were given a $0.055 dividend. The ex-dividend date of this dividend was Friday, September 12th. This represents a $0.22 annualized dividend and a yield of 4.0%. This is an increase from Trican Well Service's previous quarterly dividend of $0.05. Trican Well Service's payout ratio is presently 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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