Calfrac Well Services (TSE:CFW) Downgraded to Sector Perform Rating by ATB Cormark Capital Markets

ATB Cormark Capital Markets downgraded shares of Calfrac Well Services (TSE:CFW) from an outperform rating to a sector perform rating in a report released on Friday morning, Marketbeat reports. ATB Cormark Capital Markets currently has C$7.50 target price on the stock.

Separately, 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 note on Wednesday, May 13th. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of C$7.75.

Calfrac Well Services Stock Up 3.9%

Shares of Calfrac Well Services stock traded up C$0.23 during trading on Friday, hitting C$6.19. 81,556 shares of the stock traded hands, compared to its average volume of 129,113. The company has a fifty day moving average price of C$6.17 and a two-hundred day moving average price of C$5.62. Calfrac Well Services has a twelve month low of C$3.02 and a twelve month high of C$7.20. The stock has a market cap of C$621.92 million, a P/E ratio of 13.46, a PEG ratio of -0.30 and a beta of -0.37. The company has a debt-to-equity ratio of 25.17, a quick ratio of 1.33 and a current ratio of 1.48.

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

Insider Buying and Selling at Calfrac Well Services

In related news, insider Jeffrey Irwin Ellis sold 7,000 shares of the firm’s stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of C$6.50, for a total value of C$45,500.00. Following the completion of the sale, the insider owned 12,043 shares of the company’s stock, valued at C$78,279.50. This trade represents a 36.76% decrease in their ownership of the stock. Also, insider Alif Husein Noorani sold 7,432 shares of Calfrac Well Services stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of C$5.90, for a total value of C$43,848.80. Following the completion of the sale, the insider directly owned 145 shares of the company’s stock, valued at C$855.50. This trade represents a 98.09% decrease in their ownership of the stock. Over the last 90 days, insiders purchased 30,997 shares of company stock worth $186,495 and sold 20,456,098 shares worth $134,044,544. Insiders own 46.88% of the company’s stock.

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.