Insider Selling: Calfrac Well Services (TSE:CFW) Insider Sells C$29,362,500.00 in Stock

Calfrac Well Services Ltd. (TSE:CFW) insider Sime Armoyan sold 4,350,000 shares of the firm’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of C$6.75, for a total transaction of C$29,362,500.00. Following the completion of the transaction, the insider directly owned 15,084,000 shares in the company, valued at approximately C$101,817,000. The trade was a 22.38% decrease in their position.

Sime Armoyan also recently made the following trade(s):

• On Wednesday, June 10th, Sime Armoyan sold 15,429,212 shares of Calfrac Well Services stock. The shares were sold at an average price of C$6.50, for a total transaction of C$100,289,878.00.
• On Wednesday, June 10th, Sime Armoyan sold 650,000 shares of Calfrac Well Services stock. The shares were sold at an average price of C$6.50, for a total transaction of C$4,225,000.00.

Calfrac Well Services Price Performance

Shares of TSE CFW opened at C$6.68 on Monday. Calfrac Well Services Ltd. has a fifty-two week low of C$3.02 and a fifty-two week high of C$7.20. The stock has a market cap of C$671.15 million, a price-to-earnings ratio of 14.52, a PEG ratio of -0.30 and a beta of -0.44. The company has a debt-to-equity ratio of 25.17, a quick ratio of 1.33 and a current ratio of 1.48. The firm’s 50-day simple moving average is C$5.98 and its 200 day simple moving average is C$5.22.

Calfrac Well Services (TSE:CFW) last announced its quarterly earnings results on Tuesday, May 12th. The company reported C$0.19 earnings per share for the quarter. Calfrac Well Services had a net margin of 3.29% and a return on equity of 6.49%. The business had revenue of C$305.37 million for the quarter. As a group, research analysts anticipate that Calfrac Well Services Ltd. will post 0.3798828 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Royal Bank Of Canada raised 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 research report on Wednesday, May 13th. ATB Cormark Capital Markets raised their price target on shares of Calfrac Well Services from C$7.25 to C$7.50 and gave the company an “outperform” rating in a research report on Wednesday, May 13th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of C$7.75.

About Calfrac Well Services

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.