Calfrac Well Services (TSE:CFW) Releases Quarterly Earnings Results

Calfrac Well Services (TSE:CFW) released its earnings results on Thursday. The company reported C$0.32 earnings per share for the quarter, FiscalAI reports. The company had revenue of C$426.69 million during the quarter. Calfrac Well Services had a net margin of 3.29% and a return on equity of 6.49%.

Calfrac Well Services Stock Performance

Shares of CFW opened at C$6.33 on Friday. The business’s fifty day moving average price is C$6.37 and its 200 day moving average price is C$5.90. Calfrac Well Services has a 12-month low of C$3.02 and a 12-month high of C$7.20. The stock has a market capitalization of C$635.99 million, a PE ratio of 13.76, a price-to-earnings-growth ratio of -0.30 and a beta of -0.45. The company has a debt-to-equity ratio of 25.17, a current ratio of 1.48 and a quick ratio of 1.33.

Insider Transactions at Calfrac Well Services

In other Calfrac Well Services news, insider Alif Husein Noorani sold 7,432 shares of the business’s stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of C$5.90, for a total transaction of C$43,848.80. Following the completion of the sale, the insider owned 145 shares in the company, valued at C$855.50. The trade was a 98.09% decrease in their ownership of the stock. Also, insider Tyler Dahlseide bought 9,250 shares of the company’s stock in a transaction on Wednesday, May 13th. The shares were acquired at an average cost of C$5.83 per share, for a total transaction of C$53,927.50. Following the completion of the acquisition, the insider directly owned 79,774 shares of the company’s stock, valued at C$465,082.42. This trade represents a 13.12% increase in their position. Over the last quarter, insiders have acquired 30,997 shares of company stock valued at $186,495 and have sold 20,456,098 shares valued at $134,044,544. Company insiders own 46.88% of the company’s stock.

Analyst Ratings Changes

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

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.