Calfrac Well Services (TSE:CFW) Stock Crosses Above 200 Day Moving Average – Time to Sell?
by Michael Walen · The Markets DailyCalfrac Well Services Ltd. (TSE:CFW – Get Free Report)’s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$6.05 and traded as high as C$7.01. Calfrac Well Services shares last traded at C$6.99, with a volume of 134,314 shares.
Analyst Upgrades and Downgrades
Several research firms have recently commented on CFW. Royal Bank Of Canada boosted their price target on shares of Calfrac Well Services from C$7.50 to C$8.00 and gave the company a “sector perform” rating in a report on Wednesday, May 13th. ATB Cormark Capital Markets upgraded shares of Calfrac Well Services from a “hold” rating to a “moderate buy” rating and increased their price objective for the company from C$7.50 to C$9.00 in a research note on Tuesday, August 11th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of C$8.50.
Calfrac Well Services Price Performance
The stock has a fifty day moving average price of C$6.47 and a 200-day moving average price of C$6.05. The firm has a market capitalization of C$705.59 million, a PE ratio of 11.46, a P/E/G ratio of -0.30 and a beta of -0.45. The company has a debt-to-equity ratio of 20.48, a quick ratio of 1.33 and a current ratio of 1.52.
Calfrac Well Services (TSE:CFW – Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported C$0.32 earnings per share for the quarter. Calfrac Well Services had a return on equity of 8.75% and a net margin of 4.49%.The firm had revenue of C$426.69 million during the quarter. Sell-side analysts forecast that Calfrac Well Services Ltd. will post 0.3798828 EPS for the current fiscal year.
Insiders Place Their Bets
In other Calfrac Well Services news, insider Jeffrey Irwin Ellis sold 13,000 shares of the business’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of C$6.75, for a total value of C$87,750.00. Following the completion of the transaction, the insider directly owned 15,489 shares in the company, valued at approximately C$104,550.75. The trade was a 45.63% decrease in their ownership of the stock. Also, Director Charles Pellerin purchased 11,300 shares of the firm’s stock in a transaction on Friday, May 29th. The shares were purchased at an average cost of C$6.20 per share, with a total value of C$70,060.00. Following the completion of the transaction, the director owned 6,222,723 shares of the company’s stock, valued at approximately C$38,580,882.60. The trade was a 0.18% increase in their position. Over the last ninety days, insiders bought 16,900 shares of company stock worth $104,126 and sold 20,739,766 shares worth $136,126,363. 46.88% of the stock is currently owned by corporate insiders.
Calfrac Well Services Company Profile
Calfrac Well Services Ltd provides specialized oilfield services, including hydraulic fracturing, coiled tubing, cementing, and other well completion services to the oil and natural gas industries in Canada, the United States, Russia, and Argentina. It generates maximum revenue from the United States.