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

Trican Well Service Ltd. (TSE:TCW)’s stock price hit a new 52-week high on Thursday . The company traded as high as C$5.24 and last traded at C$5.19, with a volume of 114171 shares trading hands. The stock had previously closed at C$5.13.

Analyst Upgrades and Downgrades

TCW has been the subject of a number of analyst reports. BMO Capital Markets decreased their price objective on shares of Trican Well Service from C$5.50 to C$5.00 in a report on Wednesday, October 30th. TD Securities decreased their price target 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 dropped their price objective on Trican Well Service from C$5.00 to C$4.75 in a research note on Tuesday, October 15th. Finally, ATB Capital increased their price target on Trican Well Service from C$5.50 to C$6.00 in a report on Tuesday, December 10th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of C$5.57.

Trican Well Service Stock Performance

The stock’s 50 day moving average is C$4.80 and its two-hundred day moving average is C$4.80. The stock has a market capitalization of C$1.02 billion, a price-to-earnings ratio of 9.35, a price-to-earnings-growth ratio of 0.22 and a beta of 1.73. 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 firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 31st were given a $0.045 dividend. This represents a $0.18 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date was Friday, December 13th. Trican Well Service’s dividend payout ratio is presently 31.58%.

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.