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Opinions Josef Schachter
Trican Well Service Ltd.TCW.TOWAITOct 09, 2018
Stock 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
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