Analysts Set Trican Well Service Ltd. (TSE:TCW) PT at C$6.42

Trican Well Service Ltd. (TSE:TCW) has earned an average rating of “Moderate Buy” from the five research firms that are currently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is C$6.42.

A number of equities research analysts have commented on the company. TD Securities decreased their price objective on Trican Well Service from C$6.00 to C$5.50 and set a “hold” rating for the company in a research report on Wednesday, October 29th. Royal Bank Of Canada upped their target price on Trican Well Service from C$7.00 to C$7.50 and gave the company an “outperform” rating in a report on Thursday, October 9th.

Insiders Place Their Bets

In related news, insider Bradley Peter David Fedora purchased 7,550 shares of the stock in a transaction dated Monday, November 3rd. The shares were acquired at an average cost of C$5.26 per share, for a total transaction of C$39,713.00. Following the acquisition, the insider directly owned 7,550 shares in the company, valued at approximately C$39,713. The trade was a ∞ increase in their position. Also, Director Thomas Malcolm Alford purchased 5,000 shares of the company’s stock in a transaction dated Friday, October 31st. The stock was bought at an average cost of C$5.22 per share, for a total transaction of C$26,100.00. Following the completion of the purchase, the director directly owned 45,000 shares of the company’s stock, valued at C$234,900. The trade was a 12.50% increase in their position. Insiders have acquired a total of 15,000 shares of company stock valued at $78,602 in the last three months. Company insiders own 0.62% of the company’s stock.

Trican Well Service Stock Up 2.4%

Shares of Trican Well Service stock opened at C$5.48 on Thursday. The stock’s fifty day moving average is C$5.80 and its 200-day moving average is C$5.26. The firm has a market capitalization of C$1.16 billion, a PE ratio of 9.79, a price-to-earnings-growth ratio of 0.22 and a beta of 0.22. The company has a quick ratio of 1.75, a current ratio of 2.62 and a debt-to-equity ratio of 5.89. Trican Well Service has a 12-month low of C$3.69 and a 12-month high of C$6.39.

Trican Well Service Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 30th were given a $0.055 dividend. This represents a $0.22 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date was Friday, September 12th. This is a positive change from Trican Well Service’s previous quarterly dividend of $0.05. Trican Well Service’s payout ratio is currently 35.71%.

About Trican Well Service

Trican Well Service Ltd is an equipment services company. It provides products, equipment, services, and technology for use in the drilling, completion, stimulation, and reworking of oil and gas wells primarily through its continuing pressure pumping operations in Canada. The company offers services related to coiled tubing, pipeline service, cementing, fracturing and reservoir solutions.