Royal Bank of Canada Cuts Trican Well Service (TSE:TCW) Price Target to C$5.50

Trican Well Service (TSE:TCW) had its target price trimmed by Royal Bank of Canada from C$6.00 to C$5.50 in a research report released on Thursday morning,BayStreet.CA reports. The firm currently has an outperform rating on the stock.

Separately, TD Securities dropped their price objective on shares of Trican Well Service from C$5.00 to C$4.75 and set a “hold” rating for the company in a research note on Wednesday.

Trican Well Service Stock Down 0.7 %

Shares of TSE TCW opened at C$4.16 on Thursday. Trican Well Service has a 52-week low of C$3.69 and a 52-week high of C$5.45. The business’s 50 day moving average is C$4.45 and its two-hundred day moving average is C$4.70. 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 market cap of C$785.06 million, a price-to-earnings ratio of 7.40, a PEG ratio of 0.22 and a beta of 1.73.

Trican Well Service Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 31st were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 4.81%. The ex-dividend date was Friday, March 14th. This is an increase from Trican Well Service’s previous quarterly dividend of $0.05. Trican Well Service’s dividend payout ratio is 32.02%.

Trican Well Service Company Profile

Trican Well Service Ltd., an equipment services company, provides various specialized products, equipment, services, and technology for use in the drilling, completion, stimulation, and reworking of oil and gas wells primarily in Canada. The company offers cementing solutions, including pre-flushes and spacers, cement plugs, lost circulation, cement design, and laboratory solutions, as well as surface, intermediate, production, liner, horizontal, and remedial/squeeze cementing services.