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

Key Points

• Trican Well Service Ltd.'s stock price has surpassed its 200-day moving average of C$4.94, reaching a high of C$6.26 during trading.
• Analysts have upgraded their price targets for Trican, with recommendations ranging from "hold" to "moderate buy," reflecting a consensus target price of C$6.17 for the stock.
• The company announced a quarterly dividend increase to $0.055 per share, reflecting a 3.6% yield and a payout ratio of 35.19%.

Trican Well Service Ltd. (TSE:TCW - Get Free Report)'s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$4.94 and traded as high as C$6.26. Trican Well Service shares last traded at C$6.13, with a volume of 425,052 shares changing hands.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on TCW shares. TD Securities increased their price target on 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. ATB Capital increased their price target on Trican Well Service from C$5.50 to C$6.50 and gave the company an "outperform" rating in a report on Friday, July 4th. 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 report on Friday, July 4th. Raymond James Financial raised Trican Well Service from a "hold" rating to a "moderate buy" rating and increased their price target for the company from C$5.00 to C$6.50 in a report on Friday, July 4th. Finally, BMO Capital Markets increased their price target on Trican Well Service from C$5.00 to C$6.00 and gave the company an "outperform" rating in a report on Friday, July 4th. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of C$6.17.

Trican Well Service Stock Performance

The firm has a 50 day simple moving average of C$5.78 and a 200-day simple moving average of C$4.94. 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 company has a market cap of C$1.09 billion, a price-to-earnings ratio of 11.35, a PEG ratio of 0.22 and a beta of 0.62.

Trican Well Service Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 30th will be paid a dividend of $0.055 per share. This represents a $0.22 annualized dividend and a yield of 3.6%. This is a positive change from Trican Well Service's previous quarterly dividend of $0.05. The ex-dividend date of this dividend is Friday, September 12th. Trican Well Service's payout ratio 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.