Trican Well Service (TSE:TCW) Hits New 52-Week High – Here’s Why

Trican Well Service Ltd. (TSE:TCW)’s stock price reached a new 52-week high on Friday . The stock traded as high as C$5.45 and last traded at C$5.38, with a volume of 109810 shares trading hands. The stock had previously closed at C$5.37.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. ATB Capital lifted their target price on shares of Trican Well Service from C$5.50 to C$6.00 in a report on Tuesday, December 10th. TD Securities cut their target price on shares of Trican Well Service from C$5.00 to C$4.75 and set a “hold” rating for the company in a report on Tuesday, October 8th. Raymond James cut their target price on shares of Trican Well Service from C$5.00 to C$4.75 in a report on Tuesday, October 15th. Finally, BMO Capital Markets cut their target price on shares of Trican Well Service from C$5.50 to C$5.00 in a report on Wednesday, October 30th.

Trican Well Service Stock Performance

The company has a market cap of C$1.01 billion, a PE ratio of 9.23, a price-to-earnings-growth ratio of 0.22 and a beta of 1.73. The firm’s fifty day moving average is C$4.89 and its 200 day moving average is C$4.82. The company has a current ratio of 2.60, a quick ratio of 1.75 and a debt-to-equity ratio of 3.90.

Trican Well Service Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 31st were issued a $0.045 dividend. This represents a $0.18 annualized dividend and a yield of 3.42%. The ex-dividend date was Friday, December 13th. Trican Well Service’s payout ratio is presently 31.58%.

About Trican Well Service

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.