Trican Well Service (TSE:TCW) Shares Cross Above 200-Day Moving Average - Time to Sell?

Key Points

• Trican Well Service Ltd. shares have recently surpassed their 200-day moving average, indicating potential upward momentum in stock performance.
• Several analysts have raised their price targets for Trican, with Raymond James increasing their recommendation from "hold" to "moderate buy" and a target price of C$6.50.
• The company declared a quarterly dividend of $0.05, translating to an annual yield of 3.4% based on its current share price.

Shares of Trican Well Service Ltd. (TSE:TCW - Get Free Report) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$4.68 and traded as high as C$5.97. Trican Well Service shares last traded at C$5.95, with a volume of 1,466,871 shares trading hands.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on TCW. National Bankshares increased their price target on 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. ATB Capital raised their target price on Trican Well Service from C$5.50 to C$6.50 and gave the stock an "outperform" rating in a research note on Friday, July 4th. Royal Bank Of Canada raised their target price on 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. BMO Capital Markets raised their target price on Trican Well Service from C$5.00 to C$6.00 and gave the stock an "outperform" rating in a research note on Friday, July 4th. Finally, Raymond James Financial raised Trican Well Service from a "hold" rating to a "moderate buy" rating and raised their target price for the stock from C$5.00 to C$6.50 in a research note on Friday, July 4th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of C$6.17.

Trican Well Service Stock Down 1.8%

The company has a debt-to-equity ratio of 5.89, a current ratio of 2.62 and a quick ratio of 1.75. The stock has a fifty day moving average price of C$5.25 and a two-hundred day moving average price of C$4.70. The company has a market cap of C$1.10 billion, a P/E ratio of 10.39, a price-to-earnings-growth ratio of 0.22 and a beta of 1.73.

Trican Well Service Dividend Announcement

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