Latest news for Trican Well Service (OTC:TOLWF) Stock

Trican Well Service Ltd is an equipment services company. It provides products, equipment, services, and technology for use in the drilling, completion, stimulation, and reworking of oil and gas wells primarily through its continuing pressure pumping operations in Canada. The company offers services related to coiled tubing, pipeline service, cementing, fracturing and reservoir solutions. The company offers these services to customers in Canada from operating bases located across the Western Canadian Sedimentary Basin (WCSB).

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TSX:TCW

National Bank Bumps Up Trican Well Service Price Target By 56%

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TRICAN WELL SVC CO LTD by Trican Well Service Ltd.

Trican Well Service Ltd

<ul>
<li>Trican Well Service Ltd&nbsp;(TSX: TCW) (OTC: <a class="ticker" href="https://www.benzinga.com/stock/tolwf#OTC">TOLWF</a>) has been&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/quote/TOLWF" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">upgraded to Outperform from Sector Perform</a>, and the price target was raised to C$6.25 from C$4 by&nbsp;National Bank&nbsp;analyst Dan Payne.</li>
<li>The analyst sees the company&#39;s high-rate of change value fundamentals getting increasingly visible.</li>
<li>Payne mentions that Trican&#39;s compounding outlook creates a robust backdrop for free cash flow generation and affords optionality to the expected return of capital activities.</li>
<li>Price Action:&nbsp;TCW shares closed lower by 1.37% at C$4.31 on TSX, and TOLWF lower by 2.8% at $3.38 on Friday.</li>
</ul>

BFTI

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	Trican Well Service Ltd. (OTC: <a class="ticker" href="/stock/tolwf#OTC">TOLWF</a>) announced the pricing of an upsized underwritten secondary offering by Keane Investor Holdings, LLC (the &quot;Selling Stockholder&quot;), which includes Trican, of 13,321,753 shares of Keane Group, Inc.&#39;s (NYSE: <a class="ticker" href="/stock/frac#NYSE">FRAC</a>) (&quot;KEANE&quot;) common stock at a price to the public of $18.25 per share. In addition, the Selling Stockholder has also granted the underwriters a 30-day option to purchase an additional 1,998,262 shares of Keane&#39;s common stock. The offering is expected to close on January 22, 2018, subject to customary closing conditions. Trican expects to receive net proceeds of approximately US$23.9 million from this offering (assuming the underwriters do not exercise their option to purchase the additional shares, which would result in an additional US$3.3 million of net proceeds to Trican).</div>
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	The Selling Shareholder, which includes Trican, retains 58,907,685 of Kean&#39;s common stock (assuming the underwriters do not exercise their option to purchase the additional shares). Keane, its officers and directors and the Selling Stockholder have agreed with the underwriters, subject to certain exceptions, not to dispose of or hedge any of their Keane common stock or securities convertible into or exchangeable for shares of Keane&#39;s common stock during a 90 day period.</div>
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	Trican expects to utilize its net proceeds from the secondary offering to reduce its outstanding debt and continue its NCIB.</div>

Offerings

FRAC

Trican Announces ~ 13.2M Share Secondary Offering of Keane Shares Priced @$18.25/Share

Trican Well (TSE:TCW) has released an update. Trican Well Service Ltd. has announced its first quarter results for 2024, revealing an 8% decrease i...

Trican Announces Q1 Results and Technological Edge

In a report released today, Cole Pereira from Stifel Nicolaus maintained a Buy rating on Trican Well Service (TOLWF – Research Report), with a pric...

Trican Well Service (TOLWF) Receives a Buy from Stifel Nicolaus

Trican Well Service declares $0.045 dividend

Trican Well Service reports Q1 results

Trican Well Service Ltd. (TOLWF) Q1 2024 Earnings Call Transcript

Trican Well (TSE:TCW) has released an update. Trican Well Service Ltd. has successfully held its 2024 annual meeting, resulting in the election of ...

Trican Well Announces Successful 2024 Meeting Outcomes

Companies in the Energy sector have received a lot of coverage today as analysts weigh in on Conocophillips (COP – Research Report), Petroleo Brasi...

Analysts' Opinions Are Mixed on These Energy Stocks: Conocophillips (COP), Petroleo Brasileiro SA- Petrobras (PBR) and Trican Well Service (OtherTOLWF)

Trican Well Service (TSE:TCW) has released an update. Trican Well Service Ltd. is set to release its second quarter results of 2024 on July 30, aft...

Trican Well Service Q2 2024 Results Announcement

Despite recent challenges, including a dip in revenue and operational hurdles, Clean Energy (CLNE) rebounded from its losses in the first quarter. With the second quarter earnings report on the horizon, all eyes are on CLNE's potential turnaround in financial performance. Can CLNE boost investor confidence with its Q2 earnings? Read on to find out… Clean Energy Fuels Corp. (<a href="https://stocknews.com/stock/CLNE/">CLNE</a>), a pioneer in procuring and using renewable natural gas (RNG), will soon report its fiscal 2024 second-quarter results, which ended June 30. In this piece, we will determine whether Clean Energy can boost investor confidence with its upcoming report.
Valued at $544.76 million, Clean Energy provides natural gas as an alternative fuel for vehicle fleets in the U.S. and Canada. It supplies RNG, compressed natural gas (CNG), and liquified natural gas (LNG) for medium, and heavy-duty vehicles and offers operation and maintenance services for vehicle fleet customer stations.
Recently, CLNE has made significant strides, particularly in expanding its RNG production and distribution network. The company sold 58 million gallons of RNG during the first quarter, marking an 8.6% year-over-year increase. It also opened two new fueling stations in Texas and completed a major dairy farm RNG digester project worth $26 million.
For the second quarter (ended June 2024), analysts expect a loss per share of $0.02, which is twice the loss of $0.01 per share reported in the prior quarter. On the contrary, the company's revenue for the same period is expected to increase 15.9% year-over-year to $104.92 million.
Clean Energy exceeded expectations in the <a href="https://investors.cleanenergyfuels.com/news-releases/news-release-details/clean-energy-reports-revenue-1037-million-and-580-million-rng">first quarter</a>, with revenue of $103.71 million, surpassing analysts' expectations of $99.69 million.  Additionally, the company reported a non-GAAP loss per share of $0.01, which was better than the forecasted loss per share of $0.03. Given this performance, there is potential for another beat in the upcoming earnings report.
Shares of CLNE have plunged 50.7% over the past year and 36.3% year-to-date to close the last trading session at $2.44. Also, the stock has declined 16.7% over the past month.
Let's look at factors that could influence CLNE's performance in the upcoming months.
Weak financials
For the first quarter that ended March 31, 2024, CLNE's total revenue decreased 21.5% year-over-year to $103.71 million. Its product revenues fell 25.3% from the year-ago value to $89.41 million. CLNE's operating loss for the quarter stood at $9.31 million.
The company reported a non-GAAP <a href="https://www.investopedia.com/terms/n/netloss.asp">net loss</a> of $2.33 million or $0.01 per share, compared to the previous year's loss of $15.89 million or $0.08 per share. In addition, its net cash outflows from operating activities amounted to $19 million, compared to an inflow of $2.59 million in the same period last year.
As of March 31, CLNE's cash, cash equivalents and current portion of restricted cash reduced to $91.41 million from $106.96 million recorded as of December 31, 2023.
Mixed Analyst Expectations
Analysts expect CLNE to post a loss per share of $0.01 in the third quarter, ending September 2024. However, its revenue for the same quarter is expected to increase 11.3% year-over-year to $106.37 million.
For the fiscal year ending December 2024, CLNE's loss per share is expected to be $0.04, indicating a 26.7% year-over-year increase. On the contrary, its revenue for the current year is forecasted to grow marginally from the prior year period to $430.28 million.
Dimmed Profitability
CLNE's trailing-12-month gross profit margin of 26.40% is 40.9% lower than the industry average of 44.65%. Likewise, its trailing-12-month asset turnover ratio of 0.34x is 31% lower than the industry average of 0.50x.
Moreover, its trailing-12-month EBITDA margin of negative 1.54% is lower than the industry average of 34.53%. CLNE's trailing-12-month ROCE, ROTC, and ROTA of negative 11.17%, negative 3.14%, and negative 6.41% compares to their respective industry averages of 13.81%, 7.54%, and 5.61%.
POWR Ratings Reflect a Weak Outlook
CLNE's bleak fundamentals are reflected in its <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a>. The stock has an overall D rating, equating to a Sell in our proprietary rating system. The POWR Ratings are calculated by considering 118 distinct factors, with each factor weighted to an optimal degree.
Our proprietary rating system also evaluates each stock based on eight distinct categories. CLNE has a D grade for Quality, consistent with its lower profit margins. It also has a D grade for Stability. CLNE's 24-month beta of 2.22 justifies the Stability grade.
Within the D-rated <a href="https://stocknews.com/category/energy-services/">Energy - Services</a> industry, CLNE is ranked #46 out of 51 stocks.
Beyond what I have stated above, we have also given CLNE grades for Growth, Value, Momentum, and Sentiment. Get all CLNE ratings <a href="https://stocknews.com/stock/CLNE/">here</a>.
Bottom Line
Despite CLNE's rebound from the previous year's losses and management's upbeat report on exceeding its own expectations, the company still faces substantial challenges. The first quarter of fiscal 2024 saw a decline in total revenue, significant cash outflows from operating activities, and declining cash reserves.
With a projected net loss (between $101 million and $111 million) for the year and ongoing operational struggles, CLNE's journey to regain investor confidence through its upcoming earnings report remains critical amidst a challenging financial landscape.
Given CLNE's weak financials, declining profitability, and bleak near-term prospects, it could be wise to avoid investing in this stock now.
Stocks to Consider Instead of Clean Energy Fuels Corp. (CLNE)
Given its uncertain short-term prospects, the odds of CLNE outperforming in the weeks and months ahead are compromised. However, there are many industry peers with much more impressive POWR Ratings. So, consider these three A-rated (Strong Buy) stocks from the <a href="https://stocknews.com/category/energy-services/">Energy - Services</a> industry instead:
Vibra Energia S.A. (<a href="https://stocknews.com/stock/PETRY/">PETRY</a>)
Trican Well Service Ltd. (<a href="https://stocknews.com/stock/TOLWF/">TOLWF</a>)
MRC Global Inc. (<a href="https://stocknews.com/stock/MRC/">MRC</a>)
To explore more A and B-rated energy stocks, <a href="https://stocknews.com/category/energy-services/">click here</a>.
What To Do Next?
Get your hands on this special report with 3 low priced companies with tremendous upside potential even in today's volatile markets:
<a href="https://report.stocknews.com/free-report/3stocks/?formplacement=artbotad_3s">3 Stocks to DOUBLE This Year &gt;</a>

<hr />
CLNE shares were trading at $2.61 per share on Friday afternoon, up $0.17 (+6.97%). Year-to-date, CLNE has declined -31.85%, versus a 19.06% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Shweta Kumari</h2> <img src='https:/wp-content/uploads/2022/03/Shweta-Kumari_Image-2.jpg' style="float:left; padding:5px;width:125px;">Shweta's profound interest in financial research and quantitative analysis led her to pursue a career as an investment analyst. She uses her knowledge to help retail investors make educated investment decisions.<a href="https://stocknews.com/authors/?author=shweta-kumari">More...</a>The post <a href=https://stocknews.com/news/clne-petry-tolwf-mrc-can-clean-energy-fuels-clne-boost-investor-confidence-with-its/>Can Clean Energy Fuels (CLNE) Boost Investor Confidence With Its Q2 Earnings?</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

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