$TCW.TO

RBC Lifts Trican Well Service's Price Target to C$8.50 from C$7.50

RBC Capital Markets on Tuesday raised Trican Well Service's (TCW.TO) price target to C$8.50 from $7.50 with a sector perform rating.Trican's first-quarter results were slightly better than expectations, including adjusted EBITDA of $70.1 million that was in between RBC's estimate of $67.9 million and the Street consensus of $72.2 million.RBC increased its 2026 and 2027 EBITDA estimates for Trican following the company's first-quarter performance."We continue to see Trican as a leading Canadian service provider, with strong offerings in pressure pumping and cementing, but see stronger relative opportunity in select US pressure pumpers at present," RBC said.Trican traded at $7.72 per share at last look Wednesday on the Toronto Stock Exchange.Price: $7.74, Change: $+0.16, Percent Change: +2.11%

BMO Upgrades Trican Rating to Outperform, Raises Price Target to C$9.00 from C$7.00

BMO Capital Markets on Tuesday upgraded its rating on the shares of Trican Well Services (TCW.TO) to outperform from market perform and increased its price target to C$9.00 from C$7.00 following the oilfield-services company's first-quarter results.Trican's results exceeded expectations, with a pick-up in April activity driving results higher, BMO said.While BMO does not believe the strong quarter was commodity driven, BMO expects rising activity levels and pricing in the second half of 2026 and 2027 as producers look to increase spending."In our view, TCW's financial results hold some of the best torque to higher activity in the Western Canada Sedimentary Basin, while the pressure pumping supply/demand balance currently sits in a tight band," BMO said.Price: $7.51, Change: $+0.34, Percent Change: +4.74%

Trican Well Service's Q1 Profit Falls YoY Despite Higher Revenue

Trican Well Service (TCW.TO) reported a year-over-year decrease in profit and profit per share in the first quarter, partly due to increased technology initiative expenses and higher depreciation expense related to the Iron Horse acquisition, the company said late on Monday.Profit was C$30.3 million, or $0.14 per share, down from $31.9 million, or $0.17 per share. The result missed the earnings per share consensus estimate of $0.15 as compiled by FactSet.Revenue was $330.3 million, up from $259.1 million. The result beat the sales consensus estimate of $328.7 million as compiled by FactSet. The company cited an increase in operating activity, including the contribution from the Iron Horse acquisition.Adjusted EBITDA was $70.1 million, up from $61.3 million.The company has approved a 2026 capital budget of $122 million, with a continued focus on maintenance capital.Trican's board has approved a quarterly dividend of $0.055 per share, reflecting a 10% increase from the $0.050 per share dividend declared in the same quarter a year ago. The dividend will be paid on June 30 to shareholders of record as of the close of business on June 15.

Earnings Flash (TCW.TO) Trican Well Service Reported Q1 Revenue $330.3M, vs. $259.1M a Year Ago

RBC Picks Enerflex, CES as Preferred Oil, Gas Services Equities Ahead of Q1 Earnings Season

RBC Capital Markets said Tuesday that Enerflex (EFX.TO) and CES Energy Solutions (CEU.TO) are part of its list of preferred oil and gas services companies ahead of the first-quarter earnings reporting season.RBC said Enerflex remains part of its Global Energy Best Ideas list, adding that its estimates are above the street forecast amid solid market fundamentals.Meanwhile, RBC downgraded Trican Well Service (TCW.TO)'s rating to sector perform from outperform with a C$7.50 price target.RBC said its covered oil an gas services stocks have increased 36% this year, with US-focused firms generally outperforming those with Middle East exposure.Key themes though the course of the reporting season will be disruption caused by the Iran War and the ultimate rebuild and production re-ramp effort.In the US, public exploration and production companies continue to hold the line on spending, but incremental equipment supply tightness could drive pricing higher through the year, RBC said.Price: $30.96, Change: $+0.32, Percent Change: +1.04%

Trican Well Service Downgraded to Sector Perform at RBC

Trican Well Service Ltd. (TCW.TO) was downgraded to Sector Perform from Outperform at RBC Capital Markets on Tuesday.Analyst Keith Mackey maintained a price target of $7.50 on shares of the Calgary-based oilfield services company."We continue to see Trican as a leading Canadian service provider, with strong offerings in pressure pumping and cementing," Mackey said in a note to clients. "That said, the fracturing market in Canada looks well supplied at present, which has contributed to pricing pressures.""Providers are also entering an equipment upgrade cycle to 100% natural gas equipment, lowering the amount of cash available for buybacks," the analyst said."These factors combine into a lower relative return proposition than other names under coverage."

Trican Well Service Downgraded to Sector Perform, Keeps C$7.50 Price Target at RBC Capital Markets