Calfrac Well Services (TSE:CFW) Insider Sime Armoyan Sells 284,000 Shares of Stock

Calfrac Well Services Ltd. (TSE:CFW) insider Sime Armoyan sold 284,000 shares of Calfrac Well Services stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of C$7.30, for a total value of C$2,073,200.00. Following the sale, the insider directly owned 14,800,000 shares in the company, valued at C$108,040,000. The trade was a 1.88% decrease in their ownership of the stock.

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 value of C$100,289,878.00.
• On Wednesday, June 10th, Sime Armoyan sold 650,000 shares of Calfrac Well Services stock. The stock was sold at an average price of C$6.50, for a total value of C$4,225,000.00.
• On Thursday, June 11th, Sime Armoyan sold 4,350,000 shares of Calfrac Well Services stock. The stock was sold at an average price of C$6.75, for a total value of C$29,362,500.00.

Calfrac Well Services Price Performance

Calfrac Well Services stock opened at C$6.94 on Friday. The business has a 50 day simple moving average of C$6.42 and a 200 day simple moving average of C$5.98. The company has a debt-to-equity ratio of 20.48, a current ratio of 1.52 and a quick ratio of 1.33. The company has a market capitalization of C$697.28 million, a PE ratio of 11.38, a price-to-earnings-growth ratio of -0.30 and a beta of -0.45. Calfrac Well Services Ltd. has a one year low of C$3.02 and a one year high of C$7.35.

Calfrac Well Services (TSE:CFW) last announced its quarterly earnings results 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 for the quarter. On average, sell-side analysts forecast that Calfrac Well Services Ltd. will post 0.3798828 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CFW. ATB Cormark Capital Markets raised shares of Calfrac Well Services from a “hold” rating to a “moderate buy” rating and upped their target price for the stock from C$7.50 to C$9.00 in a report on Tuesday. Royal Bank Of Canada lifted 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. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, Calfrac Well Services presently has a consensus rating of “Moderate Buy” and an average price target of C$8.50.

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.