Trican Well Service (TSE:TCW) Hits New 52-Week High – Still a Buy?

Trican Well Service Ltd. (TSE:TCW) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$6.44 and last traded at C$6.34, with a volume of 829494 shares. The stock had previously closed at C$6.16.

Analysts Set New Price Targets

TCW has been the subject of a number of analyst reports. TD Securities decreased their price objective on shares of 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. Raymond James Financial cut Trican Well Service from a “moderate buy” rating to a “hold” rating in a report on Tuesday, December 9th. ATB Capital set a C$7.00 price target on Trican Well Service and gave the stock an “outperform” rating in a research report on Friday, December 5th. Finally, Royal Bank Of Canada raised their price objective 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. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of C$6.50.

Trican Well Service Price Performance

The stock’s fifty day moving average price is C$5.82 and its 200-day moving average price is C$5.76. The firm has a market cap of C$1.35 billion, a PE ratio of 11.34, a price-to-earnings-growth ratio of 0.22 and a beta of 0.04. The company has a debt-to-equity ratio of 5.89, a current ratio of 2.62 and a quick ratio of 1.75.

Trican Well Service (TSE:TCW) last announced its quarterly earnings data on Tuesday, October 28th. The company reported C$0.15 earnings per share (EPS) for the quarter. The company had revenue of C$300.59 million during the quarter. Trican Well Service had a net margin of 11.52% and a return on equity of 21.68%.

Trican Well Service Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 31st were issued a $0.055 dividend. This represents a $0.22 annualized dividend and a yield of 3.5%. The ex-dividend date was Friday, December 12th. Trican Well Service’s dividend payout ratio is presently 35.71%.

Insiders Place Their Bets

In related news, insider Bradley Peter David Fedora purchased 7,550 shares of Trican Well Service stock in a transaction dated Monday, November 3rd. The shares were acquired at an average price 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 ownership of the stock. Also, Director Thomas Malcolm Alford purchased 5,000 shares of the stock in a transaction dated Friday, October 31st. The shares were purchased at an average cost of C$5.22 per share, for a total transaction of C$26,100.00. Following the transaction, the director owned 45,000 shares in the company, valued at approximately C$234,900. The trade was a 12.50% increase in their position. Insiders acquired a total of 15,000 shares of company stock valued at $78,602 over the last ninety days. Corporate insiders own 0.62% of the company’s stock.

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.