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

Key Points

• Trican Well Service's stock price has recently exceeded its 200-day moving average of C$4.73, reaching a high of C$5.76.
• Multiple analysts have upgraded their ratings and target prices for Trican, with a consensus target now at C$6.17, reflecting a Moderate Buy sentiment.
• The company announced a quarterly dividend of $0.05, resulting in an annualized yield of 3.5% and a payout ratio of 32.02%.

Trican Well Service Ltd. (TSE:TCW - Get Free Report)'s share price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$4.73 and traded as high as C$5.76. Trican Well Service shares last traded at C$5.71, with a volume of 291,880 shares trading hands.

Analysts Set New Price Targets

TCW has been the topic of several research reports. National Bankshares raised 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 lifted their target price on Trican Well Service from C$5.50 to C$6.50 and gave the company an "outperform" rating in a research note on Friday, July 4th. TD Securities lifted their target price on Trican Well Service from C$4.75 to C$5.50 and gave the company a "hold" rating in a research note on Friday, July 4th. Raymond James Financial raised Trican Well Service from a "hold" rating to a "moderate buy" rating and upped their price target for the stock from C$5.00 to C$6.50 in a research report on Friday, July 4th. Finally, Royal Bank Of Canada upped their price target on Trican Well Service from C$5.50 to C$6.00 and gave the stock an "outperform" rating in a research report on Thursday, May 22nd. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Trican Well Service has an average rating of "Moderate Buy" and a consensus target price of C$6.17.

Trican Well Service Price Performance

The stock has a fifty day moving average of C$5.39 and a 200 day moving average of C$4.74. The stock has a market cap of C$1.09 billion, a price-to-earnings ratio of 10.28, a P/E/G ratio of 0.22 and a beta of 1.73. 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 Announces Dividend

The business also recently declared 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 of this dividend was Friday, June 13th. This represents a $0.20 dividend on an annualized basis and a yield of 3.5%. Trican Well Service's payout ratio is presently 32.02%.

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.