Trican Well Service (TSE:TCW) Share Price Passes Above 200 Day Moving Average – Here’s What Happened

Trican Well Service Ltd. (TSE:TCW) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$5.02 and traded as high as C$6.39. Trican Well Service shares last traded at C$6.23, with a volume of 282,556 shares traded.

Analysts Set New Price Targets

TCW has been the topic of a number of recent research reports. National Bankshares lifted their target price on Trican Well Service from C$5.75 to C$6.50 and gave the stock a “sector perform” rating in a report 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 stock an “outperform” rating in a report on Friday, July 4th. Raymond James Financial upgraded Trican Well Service from a “hold” rating to a “moderate buy” rating and lifted their target price for the stock from C$5.00 to C$6.50 in a report on Friday, July 4th. TD Securities lifted 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. Finally, BMO Capital Markets lifted 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 investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Trican Well Service presently has an average rating of “Moderate Buy” and an average price target of C$6.17.

Trican Well Service Trading Down 1.6%

The stock has a market cap of C$1.32 billion, a price-to-earnings ratio of 11.54, 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 business has a 50-day moving average of C$5.86 and a 200-day moving average of C$5.02.

Trican Well Service Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 30th were given a dividend of $0.055 per share. The ex-dividend date of this dividend was Friday, September 12th. This is a positive change from Trican Well Service’s previous quarterly dividend of $0.05. This represents a $0.22 dividend on an annualized basis and a yield of 3.5%. 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.