Trican Well Service (TSE:TCW) Price Target Raised to C$7.25

Trican Well Service (TSE:TCW) had its price target boosted by Raymond James Financial from C$6.75 to C$7.25 in a research note published on Thursday,BayStreet reports. The firm currently has a market perform rating on the stock.

A number of other research firms have also recently weighed in on TCW. ATB Cormack increased their price objective on shares of Trican Well Service from C$8.00 to C$8.50 and gave the stock an “outperform” rating in a research report on Wednesday. TD Securities raised Trican Well Service from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$8.29.

Trican Well Service Price Performance

Shares of TSE TCW opened at C$6.99 on Thursday. The firm has a 50-day simple moving average of C$6.35 and a 200-day simple moving average of C$6.78. The stock has a market capitalization of C$1.42 billion, a price-to-earnings ratio of 13.71, a price-to-earnings-growth ratio of 0.22 and a beta of -0.29. The company has a quick ratio of 1.75, a current ratio of 1.90 and a debt-to-equity ratio of 14.89. Trican Well Service has a 52 week low of C$5.19 and a 52 week high of C$8.40.

Trican Well Service (TSE:TCW) last announced its quarterly earnings data on Tuesday, October 27th. The company reported C$0.23 EPS for the quarter. Trican Well Service had a return on equity of 15.61% and a net margin of 8.95%. The firm had revenue of C$338.30 million for the quarter.

Trican Well Service Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 30th were given a dividend of $0.0550 per share. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $0.22 annualized dividend and a yield of 3.1%. Trican Well Service’s payout ratio is 43.14%.

Insiders Place Their Bets

In other news, Director Stuart O’connor acquired 20,000 shares of Trican Well Service stock in a transaction on Wednesday, September 30th. The stock was bought at an average price of C$6.05 per share, for a total transaction of C$121,000.00. Following the completion of the purchase, the director owned 26,250 shares in the company, valued at C$158,812.50. This represents a 320.00% increase in their ownership of the stock. Corporate insiders own 0.62% of the company’s stock.

Trican Well Service Company Profile

Headquartered in Calgary, Alberta, Trican supplies oil and natural gas well servicing equipment and solutions to our customers through the drilling, completion, and production cycles. Our team of technical experts provide state of the art equipment, engineering support, reservoir expertise and laboratory services through the delivery of hydraulic fracturing, cementing, coiled tubing, nitrogen services and chemical sales for the oil and gas industry in Western Canada. Trican is the largest pressure pumping service company in Canada.