Calfrac Well Services (TSE:CFW) Shares Cross Above Two Hundred Day Moving Average – Here’s What Happened

by · The Markets Daily

Shares of Calfrac Well Services Ltd. (TSE:CFW – Get Free Report) passed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of C$6.33 and traded as high as C$6.59. Calfrac Well Services shares last traded at C$6.46, with a volume of 50,074 shares traded.

Analysts Set New Price Targets

Separately, ATB Cormark Capital Markets raised Calfrac Well Services from a “hold” rating to a “moderate buy” rating and increased their price target for the stock from C$7.50 to C$9.00 in a research note on Tuesday, August 11th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of C$8.50.

Get Our Latest Report on CFW

Calfrac Well Services Stock Performance

The stock’s 50 day moving average price is C$6.78 and its 200 day moving average price is C$6.35. The company has a current ratio of 1.52, a quick ratio of 1.33 and a debt-to-equity ratio of 20.48. The company has a market cap of C$676.32 million, a price-to-earnings ratio of 10.98, a P/E/G ratio of -0.30 and a beta of -0.26.

Calfrac Well Services (TSE:CFW – Get Free Report) last released its earnings results on Thursday, August 6th. The company reported C$0.32 earnings per share (EPS) for the quarter. Calfrac Well Services had a net margin of 4.49% and a return on equity of 8.75%. The business had revenue of C$426.69 million for the quarter. On average, analysts expect that Calfrac Well Services Ltd. will post 0.3798828 EPS for the current fiscal year.

Insider Transactions at Calfrac Well Services

In related news, insider Sime Armoyan sold 284,000 shares of the stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of C$7.30, for a total value of C$2,073,200.00. Following the transaction, the insider directly owned 14,800,000 shares of the company’s stock, valued at approximately C$108,040,000. This trade represents a 1.88% decrease in their position. Also, insider Jeffrey Irwin Ellis sold 13,000 shares of Calfrac Well Services stock in a transaction on 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 owned 15,489 shares in the company, valued at C$104,550.75. The trade was a 45.63% decrease in their position. Insiders sold a total of 705,600 shares of company stock worth $5,021,236 in the last ninety days. Insiders own 46.88% of the company’s stock.

Calfrac Well Services Company Profile

(Get Free Report)

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.

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