Trican Well Service (TSE:TCW) Shares Pass Above 200 Day Moving Average – Here’s Why

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$4.82 and traded as high as C$5.39. Trican Well Service shares last traded at C$5.37, with a volume of 382,364 shares changing hands.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. TD Securities lowered their price target on 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. BMO Capital Markets reduced their price objective on Trican Well Service from C$5.50 to C$5.00 in a research report on Wednesday, October 30th. Raymond James reduced their price objective on Trican Well Service from C$5.00 to C$4.75 in a research report on Tuesday, October 15th. Finally, ATB Capital boosted their price objective on Trican Well Service from C$5.50 to C$6.00 in a research report on Tuesday, December 10th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Trican Well Service has a consensus rating of “Hold” and an average price target of C$5.57.

Trican Well Service Stock Up 3.1 %

The company has a current ratio of 2.60, a quick ratio of 1.75 and a debt-to-equity ratio of 3.90. The stock has a 50-day simple moving average of C$4.87 and a 200-day simple moving average of C$4.82. The company has a market cap of C$1.03 billion, a price-to-earnings ratio of 9.42, a price-to-earnings-growth ratio of 0.22 and a beta of 1.73.

Trican Well Service Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 31st were given a dividend of $0.045 per share. The ex-dividend date was Friday, December 13th. This represents a $0.18 dividend on an annualized basis and a yield of 3.35%. Trican Well Service’s dividend payout ratio (DPR) 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.