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

Calfrac Well Services Ltd. (TSE:CFW) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$5.81 and traded as high as C$6.37. Calfrac Well Services shares last traded at C$6.19, with a volume of 47,113 shares trading hands.

Analysts Set New Price Targets

Several analysts have recently weighed in on CFW shares. Royal Bank Of Canada boosted their price objective on shares of Calfrac Well Services from C$7.50 to C$8.00 and gave the stock a “sector perform” rating in a research report on Wednesday, May 13th. ATB Cormark Capital Markets downgraded shares of Calfrac Well Services from a “moderate buy” rating to a “hold” rating and set a C$7.50 target price on the stock. in a research report on Friday, July 10th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of C$7.75.

Calfrac Well Services Price Performance

The company has a debt-to-equity ratio of 25.17, a current ratio of 1.48 and a quick ratio of 1.33. The firm has a market cap of C$612.88 million, a price-to-earnings ratio of 13.26, a PEG ratio of -0.30 and a beta of -0.37. The stock has a 50-day moving average price of C$6.34 and a 200 day moving average price of C$5.82.

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

Insider Buying and Selling

In other news, insider Sime Armoyan sold 4,350,000 shares of the stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of C$6.75, for a total value of C$29,362,500.00. Following the completion of the sale, the insider directly owned 15,084,000 shares of the company’s stock, valued at approximately C$101,817,000. This represents a 22.38% decrease in their ownership of the stock. Also, insider Tyler Dahlseide bought 9,250 shares of the stock in a transaction dated Wednesday, May 13th. The shares were acquired at an average price of C$5.83 per share, for a total transaction of C$53,927.50. Following the completion of the transaction, the insider owned 79,774 shares of the company’s stock, valued at approximately C$465,082.42. The trade was a 13.12% increase in their position. In the last 90 days, insiders have bought 30,997 shares of company stock valued at $186,495 and have sold 20,456,098 shares valued at $134,044,544. Corporate insiders own 46.88% of the company’s stock.

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.