Trican Well Service (TSE:TCW) Stock Price Passes Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Trican Well Service shares have recently crossed above their 200-day moving average, reaching a high of C$5.82 during trading.
• Several analysts, including Raymond James and National Bankshares, have upgraded their price targets for Trican, with an average price target now at C$6.17.
• The company announced an increase in its quarterly dividend to $0.055, resulting in an annualized dividend yield of 3.8%.

Trican Well Service Ltd. (TSE:TCW - Get Free Report)'s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$4.85 and traded as high as C$5.82. Trican Well Service shares last traded at C$5.76, with a volume of 227,522 shares.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Royal Bank Of Canada lifted their price objective 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. National Bankshares boosted their target price on Trican Well Service from C$5.75 to C$6.50 and gave the company a "sector perform" rating in a research report on Friday, July 4th. Raymond James Financial raised Trican Well Service from a "hold" rating to a "moderate buy" rating and boosted their target price for the company from C$5.00 to C$6.50 in a research report on Friday, July 4th. BMO Capital Markets boosted their target price on Trican Well Service from C$5.00 to C$6.00 and gave the company an "outperform" rating in a research report on Friday, July 4th. Finally, TD Securities upped their price objective on Trican Well Service from C$4.75 to C$5.50 and gave the company 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, the company has an average rating of "Moderate Buy" and an average price target of C$6.17.

Trican Well Service Stock Performance

The stock has a market capitalization of C$1.03 billion, a PE ratio of 10.65, a PEG ratio of 0.22 and a beta of 0.62. 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 50 day moving average price of C$5.76 and a 200-day moving average price of C$4.87.

Trican Well Service Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 30th will be paid a $0.055 dividend. The ex-dividend date is Friday, September 12th. This is a positive change from Trican Well Service's previous quarterly dividend of $0.05. This represents a $0.22 annualized dividend and a dividend yield of 3.8%. Trican Well Service's dividend payout ratio (DPR) is 35.19%.

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.