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Opinions Don Vialoux
Trican Well Service Ltd.TCW.TODON'T BUYMay 08, 2017
Don VialouxStock price when the opinion was issued
As of Jun 19, 2026. Market Open.
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Outlook quite strong in terms of well servicing, you can go back in and re-frack to improve productivity. Nice, strong upward bias to fracking services and intensity of services. Nice yield.
Dennis da Silva
TCW has an impressive shareholder yield, with a dividend yield of 1.7%, a buyback yield of 10.8%, and a debt paydown yield of 3.4%. The company is a $971M company with a forward earnings multiple of 8.1X, a low debt profile, growing margins, and great free cash flows, but it does operate in a cyclical industry. Although the company's balance sheet has shrunk since 2018, its share count has also diminished significantly since that timeframe. If an investor has an optimistic outlook on the price of oil and the energy market, we would feel comfortable with the solid execution and fundamentals of this company.
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His theme today is leverage, nice yield, and ability to grow cash. No debt. Trades at 2.5x EBITDA multiple, down from its historic 5x. Services are picking up. Advantaged on the gas side, purest publicly listed frack play in Canada. First Nations issues resolved. LNG Canada could mean a 10% rig pickup. Ultra-clean balance sheet. Nice yield of 1.25%.
(Analysts’ price target is $5.53)Dennis da Silva
Jamie Murray 
Eric Nuttall
Josef Schachter
Teal Linde
The sector has been doing some strange things lately. This normally does quite well from late January right through until May of each year, so we have reached the end of the period of seasonal strength. The stock is in a downward trend, at a time when you normally expect it to see positive seasonality. This is the time when you no longer want to be involved, either seasonally or technically, with the stock.