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Total Energy Services ( (TSE:TOT) ) has issued an update.
Total Energy Services Inc. has set a preliminary 2026 capital expenditure budget of $55.8 million, split between $34.8 million of maintenance capital and $21.0 million of growth capital, to be funded from cash on hand and operating cash flow. The plan emphasizes equipment upkeep, new drill pipe, an ERP system upgrade across all business segments, and the purchase of a U.S. operating facility for its Compression and Process Services division, while growth spending will focus on a new long-term contracted service rig in Australia and expansion of the North American natural gas compression fleet. An additional $24.5 million of 2025 capital commitments will roll into 2026, mainly tied to U.S. fabrication expansion for CPS, reactivating an idle Australian service rig, and upgrading active Canadian drilling rigs. The board has also approved a 20% increase in the quarterly dividend to $0.12 per share starting with the quarter ending March 31, 2026, signalling management’s confidence in the company’s cash generation and ongoing international and North American growth initiatives.
The most recent analyst rating on (TSE:TOT) stock is a Buy with a C$17.00 price target. To see the full list of analyst forecasts on Total Energy Services stock, see the TSE:TOT Stock Forecast page.
Spark’s Take on TSE:TOT Stock
According to Spark, TipRanks’ AI Analyst, TSE:TOT is a Outperform.
Total Energy Services demonstrates strong financial performance and favorable valuation, supported by positive technical indicators. However, challenges highlighted in the earnings call, such as decreased EBITDA and margin pressures, slightly temper the overall outlook. The company’s ability to navigate these challenges while capitalizing on growth opportunities will be crucial for future performance.
To see Spark’s full report on TSE:TOT stock, click here.
More about Total Energy Services
Total Energy Services Inc. is a Calgary-based energy services company providing contract drilling, rentals and transportation, well servicing, and compression and process equipment and services. It operates from centres in North America and Australia, supporting energy and other resource industries, with its common shares listed on the Toronto Stock Exchange under the symbol TOT.
Average Trading Volume: 51,008
Technical Sentiment Signal: Buy
Current Market Cap: C$567.8M
Learn more about TOT stock on TipRanks’ Stock Analysis page.