Trican Well Service (TSE:TCW) Stock Crosses Above Two Hundred Day Moving Average - What's Next?

Key Points

• Trican Well Service's stock has recently crossed above its 200-day moving average, reaching a price of C$6.16 before settling at C$5.78 with a trading volume of 639,858 shares.
• Multiple analysts have upgraded Trican Well Service's stock ratings, with price targets now ranging from C$6.00 to C$7.50, reflecting a consensus rating of "Moderate Buy".
• The company announced an increase in its quarterly dividend to $0.055, yielding approximately 3.8%, up from the previous payout of $0.05.

Trican Well Service Ltd. (TSE:TCW - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$5.08 and traded as high as C$6.16. Trican Well Service shares last traded at C$5.78, with a volume of 639,858 shares.

Wall Street Analyst Weigh In

Several analysts have weighed in on TCW shares. Royal Bank Of Canada upped their price objective on shares of Trican Well Service from C$7.00 to C$7.50 and gave the stock an "outperform" rating in a research note on Thursday. Raymond James Financial raised shares of Trican Well Service from a "hold" rating to a "moderate buy" rating and upped their price objective for the stock from C$5.00 to C$6.50 in a research note on Friday, July 4th. BMO Capital Markets upped their price objective on shares of 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. ATB Capital upped their price objective on shares of 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. 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 research note on Friday, July 4th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of C$6.42.

Trican Well Service Trading Down 6.5%

The stock has a market capitalization of C$1.23 billion, a P/E ratio of 10.70, a PEG ratio of 0.22 and a beta of 0.40. 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 business's 50 day simple moving average is C$5.92 and its 200-day simple moving average is C$5.08.

Trican Well Service Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 30th were issued a $0.055 dividend. This represents a $0.22 annualized dividend and a yield of 3.8%. This is a boost from Trican Well Service's previous quarterly dividend of $0.05. The ex-dividend date was Friday, September 12th. Trican Well Service's dividend payout ratio (DPR) is 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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