Trican Well Service Ltd.

TCW-T

TSE:TCW

1.03
0.02 (1.98%)
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.
More at Wikipedia

Analysis and Opinions about TCW-T

Signal
Opinion
Expert
WATCH
WATCH
July 16, 2018

He likes it. He believes it has a $6 one year target. He is waiting because of concerns on the oil price. They have minimal debt. We are trading below book value. They are buying back a lot of shares. The buyback price suggests the company thinks their stock is cheap. When oil gets below $60 he thinks the stock will get down to $2.80 and it would be a buy then.

He likes it. He believes it has a $6 one year target. He is waiting because of concerns on the oil price. They have minimal debt. We are trading below book value. They are buying back a lot of shares. The buyback price suggests the company thinks their stock is cheap. When oil gets below $60 he thinks the stock will get down to $2.80 and it would be a buy then.

Josef Schachter
President, Schachter Asset Management
Price
$2.990
Owned
Unknown
DON'T BUY
DON'T BUY
June 29, 2018

Trican Well vs. Birchcliff (BIR-T) Be wary of Trican fracking right now, how much extra do you need. Tough to be a fracker up north, with most of the activity in the 48 states.

Trican Well vs. Birchcliff (BIR-T) Be wary of Trican fracking right now, how much extra do you need. Tough to be a fracker up north, with most of the activity in the 48 states.

Scott Willis
Head of Research, Grizzle
Price
$2.990
Owned
Unknown
COMMENT
COMMENT
June 18, 2018

He is bullish on natural gas and in the future he will be bullish on oil. Differentials are a problem, as is egress of the commodity. They are buying back stock right now. They have really no debt. He I warming up to the story.

He is bullish on natural gas and in the future he will be bullish on oil. Differentials are a problem, as is egress of the commodity. They are buying back stock right now. They have really no debt. He I warming up to the story.

Josef Schachter
President, Schachter Asset Management
Price
$2.940
Owned
Unknown
PAST TOP PICK
PAST TOP PICK
June 11, 2018

(A Top Pick Nov 15/17, Down 32%) The concern was around the level of dry gas spending. He still thinks there is an opportunity for an upward revision later this year. Everyone seems to forget the uplift from the change in currency. This one has been a target of shorts but it unwound last Friday. You will be the recipient of a lot of free cash flow in forms like share buybacks.

(A Top Pick Nov 15/17, Down 32%) The concern was around the level of dry gas spending. He still thinks there is an opportunity for an upward revision later this year. Everyone seems to forget the uplift from the change in currency. This one has been a target of shorts but it unwound last Friday. You will be the recipient of a lot of free cash flow in forms like share buybacks.

Eric Nuttall
Partner & Senior Portfolio Manager, Ninepoint Partners
Price
$3.140
Owned
Yes
DON'T BUY
DON'T BUY
May 31, 2018

Not a great looking chart. It is in a sideways trend and the highs are lower. He would prefer Calfrac, due to its better up trend. He could see this drop to $2.80 and would not be a buyer until it moved back above $3.50. (Analysts’ price target is $5)

Not a great looking chart. It is in a sideways trend and the highs are lower. He would prefer Calfrac, due to its better up trend. He could see this drop to $2.80 and would not be a buyer until it moved back above $3.50. (Analysts’ price target is $5)

Jeff Parent B. Eng. FCSI CIM
VP & Portfolio Manager, Chief Investment Officer, Castlemoore Inc.
Price
$3.200
Owned
Unknown
DON'T BUY
DON'T BUY
May 23, 2018

He would favour shifting into a much bigger company than this one. Technically it is in a downtrend and it is not a peak period for the energy sector. He would not buy this one.

He would favour shifting into a much bigger company than this one. Technically it is in a downtrend and it is not a peak period for the energy sector. He would not buy this one.

Brooke Thackray
Research Analyst, Horizons ETFs (Canada) Inc.
Price
$3.260
Owned
No
DON'T BUY
DON'T BUY
May 16, 2018

It's unlikely he'll buy this in the near future. It's wildly cyclical, so it's a trader's stock, not an investor's one. Profitability can swing a lot. He's a long-term, conservative investor. He can't buy-and-hold this.

It's unlikely he'll buy this in the near future. It's wildly cyclical, so it's a trader's stock, not an investor's one. Profitability can swing a lot. He's a long-term, conservative investor. He can't buy-and-hold this.

Brian Madden
Senior VP & Portfolio Manager, Goodreid Investment Council
Price
$3.360
Owned
No
DON'T BUY
DON'T BUY
May 4, 2018

The perception of weak natural gas pricing has held this stock back. If they report weak Q1 earnings, it may not be until the fall that they will be able to prove themselves. He thinks there is better opportunity trading E&P companies. In the services sector he has picked other horses.

The perception of weak natural gas pricing has held this stock back. If they report weak Q1 earnings, it may not be until the fall that they will be able to prove themselves. He thinks there is better opportunity trading E&P companies. In the services sector he has picked other horses.

Eric Nuttall
Partner & Senior Portfolio Manager, Ninepoint Partners
Price
$3.640
Owned
No
BUY WEAKNESS
BUY WEAKNESS
May 1, 2018

He really likes this but has not moved it to his Action Alert list yet. Book value is $3.40, which is about where the stock is trading. It has a fabulous balance sheet. They have a little bit of debt, $83 million, but they own a position in Keane Energy which is worth much more than that, so this is effectively a debt-free company. They are the largest fracker in Canada. The stock is up about 20% from its lows of the last month because of the bounce. Wait until the stock drops again; he thinks it will go below $3.

He really likes this but has not moved it to his Action Alert list yet. Book value is $3.40, which is about where the stock is trading. It has a fabulous balance sheet. They have a little bit of debt, $83 million, but they own a position in Keane Energy which is worth much more than that, so this is effectively a debt-free company. They are the largest fracker in Canada. The stock is up about 20% from its lows of the last month because of the bounce. Wait until the stock drops again; he thinks it will go below $3.

Josef Schachter
President, Schachter Asset Management
Price
$3.340
Owned
Unknown
PAST TOP PICK
PAST TOP PICK
April 17, 2018

(A Top Pick June 19, 2017. Down 16%). The entire pressure-pumping sector, including Trican, is completely undervalued. This company trades at 3x next year’s EBITDA. Mid-cycle valuations are closer to 4 or 4.5. The company has been spitting out high free cash flow, which has let them do $54 million in buybacks. When Shell makes its positive decision on an LNG terminal, which he expects this year, it will be very positive for Trican. He projects their free cash flow yield next year at 20%. He sold his position even though he likes the stock because he thinks that US pumpers are even more cheap than Trican. He can buy the US peers nearer 2.2 times EBITDA, compared to Trican’s 3x and they generate even better cash flow.

(A Top Pick June 19, 2017. Down 16%). The entire pressure-pumping sector, including Trican, is completely undervalued. This company trades at 3x next year’s EBITDA. Mid-cycle valuations are closer to 4 or 4.5. The company has been spitting out high free cash flow, which has let them do $54 million in buybacks. When Shell makes its positive decision on an LNG terminal, which he expects this year, it will be very positive for Trican. He projects their free cash flow yield next year at 20%. He sold his position even though he likes the stock because he thinks that US pumpers are even more cheap than Trican. He can buy the US peers nearer 2.2 times EBITDA, compared to Trican’s 3x and they generate even better cash flow.

Eric Nuttall
Partner & Senior Portfolio Manager, Ninepoint Partners
Price
$3.080
Owned
No
WATCH
WATCH
April 6, 2018

This stock has been a source of frustration for many investors. Recent earnings guidance has disappointed the market. Their margins have been eroded and they hold a lot of debt. He thinks this is getting closer to an entry.

This stock has been a source of frustration for many investors. Recent earnings guidance has disappointed the market. Their margins have been eroded and they hold a lot of debt. He thinks this is getting closer to an entry.

Peter Imhof
Vice President & Portfolio Manager, AGF Investments Inc
Price
$2.890
Owned
No
BUY WEAKNESS
BUY WEAKNESS
April 3, 2018

This is on his coverage list but not yet on his recommended list. Book value is $3.47 compared to its price today of $2.85. The balance sheet is in good shape, their debts are relatively low ($83 million compared to 1.17 billion of equity, which he calls a “non-debt company”). They’re coming to their lows of the year. He likes the company a lot and he expects it to do much better than it did last year. However, if oil drops below $60, Trican will probably be hit a little more. He expects to add it to his action alert buy list in Q2. This company has traded on 2x book value a few times, during bull markets for oil. He thinks it can more than double over the next two years.

This is on his coverage list but not yet on his recommended list. Book value is $3.47 compared to its price today of $2.85. The balance sheet is in good shape, their debts are relatively low ($83 million compared to 1.17 billion of equity, which he calls a “non-debt company”). They’re coming to their lows of the year. He likes the company a lot and he expects it to do much better than it did last year. However, if oil drops below $60, Trican will probably be hit a little more. He expects to add it to his action alert buy list in Q2. This company has traded on 2x book value a few times, during bull markets for oil. He thinks it can more than double over the next two years.

Josef Schachter
President, Schachter Asset Management
Price
$2.870
Owned
No
BUY WEAKNESS
BUY WEAKNESS
March 16, 2018

He likes the leadership and the balance sheet. They are doing stock buy-backs. Below $3 this is a great buy. They are the biggest fracker in Canada. Book value is $3.47 and it has traded 2.6 times book value. Be patient. He has a $12 target for 3-5 years.

He likes the leadership and the balance sheet. They are doing stock buy-backs. Below $3 this is a great buy. They are the biggest fracker in Canada. Book value is $3.47 and it has traded 2.6 times book value. Be patient. He has a $12 target for 3-5 years.

Josef Schachter
President, Schachter Asset Management
Price
$3.290
Owned
No
PAST TOP PICK
PAST TOP PICK
March 15, 2018

(A Top Pick May 23/17, Down 27%) A pure play in Canadian pressure pumping. Still a big holding for him. Got penalized for concerns to their exposure to dry natural gas. But the market ignored their play in East Duvernay. This has been the poster child to Americans selling or shorting Canadian oil. A major plus: This company is buying back $54 million of stock with their net cash.

(A Top Pick May 23/17, Down 27%) A pure play in Canadian pressure pumping. Still a big holding for him. Got penalized for concerns to their exposure to dry natural gas. But the market ignored their play in East Duvernay. This has been the poster child to Americans selling or shorting Canadian oil. A major plus: This company is buying back $54 million of stock with their net cash.

Eric Nuttall
Partner & Senior Portfolio Manager, Ninepoint Partners
Price
$3.190
Owned
Yes
DON'T BUY
DON'T BUY
February 23, 2018

A very volatile industry. They are in fracking. A lot of their cost structure is labor. As the labor market becomes tighter it gets into their margins. Very difficult for these companies to get pricing pressure because it is an undifferentiated commodity.

A very volatile industry. They are in fracking. A lot of their cost structure is labor. As the labor market becomes tighter it gets into their margins. Very difficult for these companies to get pricing pressure because it is an undifferentiated commodity.

Greg Newman
Director & Portfolio Manager, Scotia Wealth Management
Price
$3.120
Owned
No
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