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Trican Well Service Ltd. (TCW.TO)

Toronto - Toronto Real Time Price. Currency in CAD
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4.4300+0.1200 (+2.78%)
At close: 04:00PM EDT
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  • R
    Ryan
    It’s out and it’s great!!
  • H
    Hustler
    Where are the earnings ?
  • R
    Ryan
    It’s their practice to releases later in evening….should be out by 8pm Ontario time or sooner
  • b
    bill
    TCW - a little chart history - all-time high 2006 $30, at the bottom of the 2009 crash - $5.70 (yes, much higher than today, altho crude was in $30s and $40s for a long time, canada had less pipeline capacity, oil patch activity was on a huge decline). 2 half years later rocketed back to over $25, back to $11 a year later, back up to 18 in 2014, then the big fall of oil patch as peak oil and esg took hold, patch was decimated next few years, worst decline stock down to 60 cents end of 2015, $5 a year later, balance sheet cleanup etc. traded back to 2s and 1s down as canadian heavy crude discount and political /pipeline issues pressured producers, then 2020 hit 44 cents, but back up to 2.50 - $3 range 18 months later, then the run sub 2.50 to over 4 in the last 3 months. What happens next? If crude stays above 75 or more likely 80 (some suggest that the war premium is gone now and 90s is the new normal), and production modestly increases, analysts 4.50 target range will have to be rerated. We'll see what the guidance is in a couple of weeks, but chatter is that services are seeing demand increase notably and that pricing power is happening. WCS WTI spread is low, so with good management and balance sheet tcw should trade at multipless of current stock price if this environment continues and they can staff up and have the equipment ready. The calgary Herald article suggests that's what's happeneing, so rerating the targets might mean 6-8$ 12 month range.
  • R
    Ryan
    I have 10,000 shares let’s do this!!
  • J
    Jack
    It runs too fast those days so a pull back is expecting soon. After shaking some leaves, it will head to 5 or 6
  • B
    BmF
    The calm before the storm?
  • W
    Will
    TCW, STEP etc. are all incredible this year.
  • R
    Ryan
    We crossed 1.0 billion market cap… I called $4….and 4.50 by summer glta
  • b
    bill
    @Ryan agree, government rhetoric aside (oil cos are so far more cautious after losses and layoffs galore last 10 years, politicians have short memories when it suits them, and producers take the heat even though they don't make gasoline. But mainly, with sustained crude price above 70 or 80, when you operate a company and you know you almost closed down a couple of times very recently and at very least lay off tons of staff, had to borrow a lot to stay afloat, and shareholders battered after 10 years of losses demanding capital prudence and cash back. With that backdrop, it may be getting attractive to increase production for economic reasons if you think the price can support the investment over 2-5 years
  • b
    bill
    Calgary Herald: Varcoe: Oilpatch outlook solidifies for strong 2022 amid high prices
    'As an industry, as producers, we’re back in the driver’s seat and have a bunch of options to choose from'
    Publishing date:Apr 12, 2022 “People are starting to buy into a longer-term, higher commodity price expectation. And for service companies, we’re seeing the market is really tightening,” said analyst Tim Monachello of ATB Capital Markets.

    “It really feels like this rally has some legs, probably multi-year in nature.”

    The poll also found more capital spending is likely this year, with two-thirds of producers planning to boost their budgets by double-digit levels over 2021.

    Advertisement 6
    STORY CONTINUES BELOW

    Article content
    Six in 10 service firms expect customer activity to increase this year as a result of the Russian invasion of Ukraine, the survey also found.

    Respondents said cost inflation and increased prices for oilfield services are leading to higher drilling costs this year; labour market tightness and supply chain issues are limiting capacity.
  • B
    BmF
    We’re having a hell of a month so far!! Can’t wait for earnings report
  • J
    James
    Long time bag holder, sold 6040 at $3.75 with a slight loss, this is a struggling company with their field operations not going well. GLTA.
  • b
    bill
    looks like some serious buying of late
  • b
    bill
    So as that economic foundation justifies more production, oil services should benefit, and the expectation of that is finally lifting that sector
  • Y
    Yahoo Finance Insights
    TCW.TO reached a 52 Week high at 4.48
  • C
    CK
    Canaccord raises Target to $4.50. Reiterates 'Buy'.
  • r
    robert
    I believe Trican bought Cannon Energy...I was a 10 $ stock back in the day ..
  • Y
    Yahoo Finance Insights
    TCW.TO reached a 52 Week high at 4.17
  • Y
    Yahoo Finance Insights
    TCW.TO reached a 52 Week high at 4.39