Sime Armoyan Sells 4,350,000 Shares of Calfrac Well Services (TSE:CFW) Stock

Calfrac Well Services Ltd. (TSE:CFW) insider Sime Armoyan sold 4,350,000 shares of the business’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of C$6.75, for a total transaction of C$29,362,500.00. Following the sale, the insider owned 15,084,000 shares of the company’s stock, valued at C$101,817,000. This represents a 22.38% decrease in their position.

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 stock was sold at an average price of C$6.50, for a total transaction 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 transaction of C$4,225,000.00.

Calfrac Well Services Stock Performance

Shares of Calfrac Well Services stock opened at C$6.68 on Friday. The firm’s fifty day simple moving average is C$5.98 and its 200-day simple moving average is C$5.21. The stock has a market capitalization of C$671.15 million, a price-to-earnings ratio of 14.52, a PEG ratio of -0.30 and a beta of -0.44. Calfrac Well Services Ltd. has a 12 month low of C$3.02 and a 12 month high of C$7.20. The company has a debt-to-equity ratio of 25.17, a current ratio of 1.48 and a quick ratio of 1.33.

Calfrac Well Services (TSE:CFW) last announced its earnings results on Tuesday, May 12th. The company reported C$0.19 EPS for the quarter. The business 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%. As a group, equities analysts forecast that Calfrac Well Services Ltd. will post 0.3798828 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have issued reports on CFW shares. 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 company a “sector perform” rating in a research note on Wednesday, May 13th. ATB Cormark Capital Markets boosted their price objective on shares of Calfrac Well Services from C$7.25 to C$7.50 and gave the company an “outperform” rating in a research note on Wednesday, May 13th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average 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.