Trican Well Service (TSE:TCW) Shares Pass Above 200-Day Moving Average - Here's Why

Key Points

• Trican Well Service's stock price surpassed its 200-day moving average of C$4.64, trading as high as C$5.66 and last recorded at C$5.62 with a volume of 742,566 shares.
• Several analysts have raised their price targets for Trican, with estimates now ranging from C$5.50 to C$6.50, reflecting an overall positive sentiment with an average rating of "Moderate Buy" and a target price of C$6.21.
• The company declared a quarterly dividend of $0.05 per share, yielding 3.56% annually, highlighting its commitment to returning value to shareholders.

Trican Well Service Ltd. (TSE:TCW - Get Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$4.64 and traded as high as C$5.66. Trican Well Service shares last traded at C$5.62, with a volume of 742,566 shares changing hands.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. National Bankshares boosted their target price 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. Raymond James Financial upgraded shares of Trican Well Service from a "hold" rating to a "moderate buy" rating and boosted their price objective for the stock from C$5.00 to C$6.50 in a report on Friday, July 4th. TD Securities increased their target price on shares of Trican Well Service from C$4.75 to C$5.50 and gave the company a "hold" rating in a report on Friday, July 4th. Royal Bank Of Canada boosted their price target on shares of Trican Well Service from C$5.50 to C$6.00 and gave the stock an "outperform" rating in a research note on Thursday, May 22nd. Finally, ATB Capital raised their target price on shares of Trican Well Service from C$5.50 to C$6.50 and gave the stock an "outperform" rating in a report on Friday, July 4th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of C$6.17.

Trican Well Service Trading Down 0.5%

The firm has a market cap of C$1.07 billion, a PE ratio of 10.07, a PEG ratio of 0.22 and a beta of 1.73. The firm has a fifty day simple moving average of C$4.96 and a two-hundred day simple moving average of C$4.65. The company has a current ratio of 2.62, a quick ratio of 1.75 and a debt-to-equity ratio of 5.89.

Trican Well Service Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 30th were issued a $0.05 dividend. The ex-dividend date was Friday, June 13th. This represents a $0.20 annualized dividend and a yield of 3.5%. Trican Well Service's dividend payout ratio (DPR) is 32.02%.

Trican Well Service Company Profile

Trican Well Service Ltd., an equipment services company, provides various specialized products, equipment, services, and technology for use in the drilling, completion, stimulation, and reworking of oil and gas wells primarily in Canada. The company offers cementing solutions, including pre-flushes and spacers, cement plugs, lost circulation, cement design, and laboratory solutions, as well as surface, intermediate, production, liner, horizontal, and remedial/squeeze cementing services.