Calfrac Well Services Coverage Initiated at Canaccord Genuity (CFW)
Equities researchers at Canaccord Genuity started coverage on shares of Calfrac Well Services (TSE:CFW) in a research report issued on Tuesday, StockRatingsNetwork reports. The firm set a “hold” rating and a C$36.00 price target on the stock. Canaccord Genuity’s target price points to a potential upside of 14.00% from the company’s current price.
Calfrac Well Services (TSE:CFW) traded down 0.09% during mid-day trading on Tuesday, hitting $31.55. The stock had a trading volume of 10,819 shares. Calfrac Well Services has a 52-week low of $23.41 and a 52-week high of $35.90. The stock’s 50-day moving average is $31.34 and its 200-day moving average is $32.06. The company has a market cap of $1.460 billion and a price-to-earnings ratio of 52.63.
The company also recently announced a dividend, which is scheduled for Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a dividend of 0.2346 per share. The ex-dividend date is Friday, December 27th.
Other equities research analysts have also recently issued reports about the stock. Analysts at CIBC reiterated a “sector outperform” rating on shares of Calfrac Well Services in a research note to investors on Friday, December 6th. Separately, analysts at Raymond James upgraded shares of Calfrac Well Services from a “market perform” rating to an “outperform” rating in a research note to investors on Wednesday, November 20th. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of C$38.56.
Calfrac Well Services Ltd. is a provider of specialized oilfield services in Canada, the United States, Russia, Mexico, Argentina and Colombia, including hydraulic fracturing, coiled tubing, cementing and other well stimulation services.
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