Royal Bank Of Canada Increases Calfrac Well Services Ltd (CFW) Price Target to C$7.00
Calfrac Well Services Ltd (TSE:CFW) had its price target raised by equities research analysts at Royal Bank Of Canada from C$6.00 to C$7.00 in a note issued to investors on Thursday. The firm presently has an “outperform” rating on the stock. Royal Bank Of Canada’s price objective would indicate a potential upside of 45.83% from the company’s previous close.
A number of other research firms have also issued reports on CFW. National Bank Financial lifted their target price on Calfrac Well Services from C$5.75 to C$6.50 and gave the company an “outperform” rating in a report on Tuesday, September 5th. Raymond James Financial, Inc. lifted their target price on Calfrac Well Services from C$5.85 to C$6.00 and gave the company a “strong-buy” rating in a report on Monday, September 25th. Canaccord Genuity lifted their target price on Calfrac Well Services from C$3.00 to C$4.25 in a report on Thursday, July 27th. CIBC decreased their target price on Calfrac Well Services from C$5.75 to C$4.00 in a report on Thursday, July 20th. Finally, GMP Securities lifted their target price on Calfrac Well Services from C$3.00 to C$4.00 in a report on Thursday, July 27th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of C$5.02.
Shares of Calfrac Well Services (TSE CFW) traded down 5.51% during midday trading on Thursday, hitting $4.80. The company had a trading volume of 361,595 shares. The company has a 50-day moving average of $4.37 and a 200 day moving average of $3.53. Calfrac Well Services has a 12 month low of $2.23 and a 12 month high of $5.34. The firm’s market capitalization is $656.51 million.
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In other news, insider Wilks Brothers, Llc bought 2,453,000 shares of Calfrac Well Services stock in a transaction dated Wednesday, September 13th. The stock was acquired at an average cost of C$4.25 per share, with a total value of C$10,425,250.00. Also, insider Dan Wilks bought 2,094,577 shares of Calfrac Well Services stock in a transaction dated Wednesday, August 23rd. The stock was purchased at an average cost of C$3.42 per share, with a total value of C$7,163,453.34. Insiders have acquired a total of 6,441,977 shares of company stock valued at $24,284,660 over the last ninety days.
Calfrac Well Services Company Profile
Calfrac Well Services Ltd. is a provider of specialized oilfield services. The Company operates through four geographical segments: Canada, the United States, Russia and Latin America. Its services include hydraulic fracturing, coiled tubing, cementing and other well stimulation services. The Canadian segment provides fracturing and coiled tubing services to oil and natural gas exploration and production companies in Alberta, northeast British Columbia, Saskatchewan and southwest Manitoba.
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