Trican Well Service Ltd.

TCW-T

TSE:TCW

0.98
0.01 (1.03%)
Trican Well Service Ltd. is an oilfield services corporation headquartered in Calgary, Alberta, Canada with operations in Alberta, British Columbia, Manitoba and Saskatchewan, Canada as well as the United States.
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Analysis and Opinions about TCW-T

Signal
Opinion
Expert
DON'T BUY
DON'T BUY
April 29, 2019
Sales were down 47% in the last quarter and earnings down 113%. Upcoming earnings should be better, but even if it rebounds next year, you won't break even with this stock.
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Sales were down 47% in the last quarter and earnings down 113%. Upcoming earnings should be better, but even if it rebounds next year, you won't break even with this stock.
HOLD
HOLD
April 26, 2019
They have done a good job paying down debt. Free cash-flow is being used to buy back shares -- he likes that. He favours Canadian mid-caps or US Permian producers.
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They have done a good job paying down debt. Free cash-flow is being used to buy back shares -- he likes that. He favours Canadian mid-caps or US Permian producers.
BUY WEAKNESS
BUY WEAKNESS
April 18, 2019
Has done very well since last Nov-Dec. Very cheap here. Book value is $2.80. Has a $4.50 target. Balance sheet in excellent shape. On his coverage list. A go-to name. Buy on weakness. Especially in Q2 if it goes to $1.10-1.20. When the cycle turns, it will have a lot of leverage to the upside based on pricing power and utilization rate.
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Has done very well since last Nov-Dec. Very cheap here. Book value is $2.80. Has a $4.50 target. Balance sheet in excellent shape. On his coverage list. A go-to name. Buy on weakness. Especially in Q2 if it goes to $1.10-1.20. When the cycle turns, it will have a lot of leverage to the upside based on pricing power and utilization rate.
BUY WEAKNESS
BUY WEAKNESS
March 28, 2019
It is on his action alert buy list. It has a very good balance sheet. The book value is about $2.80. Probably the largest fracker in Canada. If we see $80 oil they will be a very big beneficiary. His target is $4.50 in 12 months.
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It is on his action alert buy list. It has a very good balance sheet. The book value is about $2.80. Probably the largest fracker in Canada. If we see $80 oil they will be a very big beneficiary. His target is $4.50 in 12 months.
TOP PICK
TOP PICK
March 11, 2019
It collapsed in 2015. They sold off their US division. Their balance sheet is much stronger now. They are the largest pressure pumper in Canada. You can buy it today at less than liquidation value. (Analysts’ price target is $2.04)
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It collapsed in 2015. They sold off their US division. Their balance sheet is much stronger now. They are the largest pressure pumper in Canada. You can buy it today at less than liquidation value. (Analysts’ price target is $2.04)
HOLD
HOLD
February 28, 2019
It is on his action alert list. It is very cheap. They reported Q4 results. Book is $3.80. They are doing a lot of share buybacks. They are in the fracking business, which is tough and competitive. Book value is $2.80. 2020 should be much better. His target is $4.50. It is very cheap. The balance sheet is strong.
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It is on his action alert list. It is very cheap. They reported Q4 results. Book is $3.80. They are doing a lot of share buybacks. They are in the fracking business, which is tough and competitive. Book value is $2.80. 2020 should be much better. His target is $4.50. It is very cheap. The balance sheet is strong.
PAST TOP PICK
PAST TOP PICK
January 25, 2019
(A Top Pick Feb 09/18, Down 57%) He sold them out at $3.50 back in April or May last year. Oil was at $60 and cash flow was growing. He liked this pressure pumper then. But now natural gas prices have gone to zero and condensate discounts have expanded. The whole service sector was decimated.
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(A Top Pick Feb 09/18, Down 57%) He sold them out at $3.50 back in April or May last year. Oil was at $60 and cash flow was growing. He liked this pressure pumper then. But now natural gas prices have gone to zero and condensate discounts have expanded. The whole service sector was decimated.
COMMENT
COMMENT
January 23, 2019
All the drillers have under performed. This is probably a good entry point -- around 5 year lows. He does not love the sector, but the risk reward is enticing. He owns PD-T right now instead. He would recommend taking money off the table if the stock price strengthens due to the volatility of the energy sector.
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All the drillers have under performed. This is probably a good entry point -- around 5 year lows. He does not love the sector, but the risk reward is enticing. He owns PD-T right now instead. He would recommend taking money off the table if the stock price strengthens due to the volatility of the energy sector.
STRONG BUY
STRONG BUY
December 17, 2018
He likes it. The stock is quite cheap. It is on his action alert buy list. They have been buying back shares at $3. Now it is $1.16. It is being thrown out. He thinks it will benefit from the recovery. They now really have no debt. This stock could have a massive recovery in 2019 when the industry sees some daylight.
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He likes it. The stock is quite cheap. It is on his action alert buy list. They have been buying back shares at $3. Now it is $1.16. It is being thrown out. He thinks it will benefit from the recovery. They now really have no debt. This stock could have a massive recovery in 2019 when the industry sees some daylight.
PAST TOP PICK
PAST TOP PICK
December 14, 2018
(A Top Pick Jan 05/18, Down 69%) He sold out of this when it became apparent oil prices were not going to finish above $70 per barrel by year end. He sold this at $4.25. They announced last week a divestiture making them debt free and it trades below book value. They have bought back 10% of their shares. When the outlook for spending improves it will be back on his radar.
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(A Top Pick Jan 05/18, Down 69%) He sold out of this when it became apparent oil prices were not going to finish above $70 per barrel by year end. He sold this at $4.25. They announced last week a divestiture making them debt free and it trades below book value. They have bought back 10% of their shares. When the outlook for spending improves it will be back on his radar.
WAIT
WAIT
November 19, 2018
The utilization rate in the US is under duress. They slowed drilling in Q4. This stock is very cheap. The balance sheet is good. Book value is $3.27 and the stocks trades less than half that. The company has been buying back shares. You have to wait for the turn in the cycle. Buy it during tax loss season.
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The utilization rate in the US is under duress. They slowed drilling in Q4. This stock is very cheap. The balance sheet is good. Book value is $3.27 and the stocks trades less than half that. The company has been buying back shares. You have to wait for the turn in the cycle. Buy it during tax loss season.
PAST TOP PICK
PAST TOP PICK
November 19, 2018
(A Top Pick Jan 23/18, Down 68%) Well-run with a solid balance sheet, but is a victim, like all Canadian energy, of very weak WCS oil prices. It's a tough time for energy services companies like this. He exited this stock and space earlier this year. Ottawa needs to build more pipelines.
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(A Top Pick Jan 23/18, Down 68%) Well-run with a solid balance sheet, but is a victim, like all Canadian energy, of very weak WCS oil prices. It's a tough time for energy services companies like this. He exited this stock and space earlier this year. Ottawa needs to build more pipelines.
PAST TOP PICK
PAST TOP PICK
November 16, 2018
(A Top Pick Nov 15/17, Down 71%) He has been in and out of this stock because of the volatility. It is dirt cheap but does not own it now. Every producer will likely come out next year with a very conservative spending budget. What is the next catalyst to get people interested in this name? He likes the assets and management and the long term outlook, but it is probably stuck in the short term.
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(A Top Pick Nov 15/17, Down 71%) He has been in and out of this stock because of the volatility. It is dirt cheap but does not own it now. Every producer will likely come out next year with a very conservative spending budget. What is the next catalyst to get people interested in this name? He likes the assets and management and the long term outlook, but it is probably stuck in the short term.
PAST TOP PICK
PAST TOP PICK
October 19, 2018

(A Top Pick January 5/18 Down 52%) He exited this when light oil differentials widened and capital spending declined. Bidding has remained very hostile for their services. It is trading at a 10% discount to NAV and he thinks negative sentiment is almost at its worst. They are diverting free cashflow into share buybacks, so he thinks there is hope going forward in a $70 WTI world and a $10 differential.

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(A Top Pick January 5/18 Down 52%) He exited this when light oil differentials widened and capital spending declined. Bidding has remained very hostile for their services. It is trading at a 10% discount to NAV and he thinks negative sentiment is almost at its worst. They are diverting free cashflow into share buybacks, so he thinks there is hope going forward in a $70 WTI world and a $10 differential.

WAIT
WAIT
October 9, 2018

Likes it a lot. He is still waiting to add it to his action alert list. Its metrics are excellent but tax loss season is coming and the price will come down. The company has been buying its stock back aggressively, at an average price of $3.47. The price keeps going down and the company has slowed down its buyback. With tax loss selling, he thinks the price could drop below $2. He would buy it himself for that price. He sees this as a $3.70 stock in late 2019 and an $8.50 stock 5 years later. It was $20 in 2014

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Likes it a lot. He is still waiting to add it to his action alert list. Its metrics are excellent but tax loss season is coming and the price will come down. The company has been buying its stock back aggressively, at an average price of $3.47. The price keeps going down and the company has slowed down its buyback. With tax loss selling, he thinks the price could drop below $2. He would buy it himself for that price. He sees this as a $3.70 stock in late 2019 and an $8.50 stock 5 years later. It was $20 in 2014

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