Calfrac Well Services (TSE:CFW) Stock Price Passes Above 200 Day Moving Average – What’s Next?

Calfrac Well Services Ltd. (TSE:CFW) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$5.46 and traded as high as C$6.58. Calfrac Well Services shares last traded at C$6.42, with a volume of 38,054 shares.

Analysts Set New Price Targets

Several equities analysts have commented on CFW shares. Royal Bank Of Canada upped their price objective on Calfrac Well Services from C$7.50 to C$8.00 and gave the company a “sector perform” rating in a research report on Wednesday, May 13th. ATB Cormark Capital Markets lifted their target price on Calfrac Well Services from C$7.25 to C$7.50 and gave the stock an “outperform” rating in a research report on Wednesday, May 13th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of C$7.75.

Calfrac Well Services Trading Down 1.2%

The stock’s 50 day moving average is C$6.03 and its two-hundred day moving average is C$5.46. The company has a market capitalization of C$645.03 million, a PE ratio of 13.96, a price-to-earnings-growth ratio of -0.30 and a beta of -0.44. The company has a quick ratio of 1.33, a current ratio of 1.48 and a debt-to-equity ratio of 25.17.

Calfrac Well Services (TSE:CFW) last released its quarterly earnings data on Tuesday, May 12th. The company reported C$0.19 earnings per share (EPS) 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%. As a group, sell-side analysts predict that Calfrac Well Services Ltd. will post 0.3798828 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Charles Pellerin bought 11,300 shares of the company’s stock in a transaction on Friday, May 29th. The shares were acquired at an average price of C$6.20 per share, with a total value of C$70,060.00. Following the transaction, the director owned 6,222,723 shares of the company’s stock, valued at C$38,580,882.60. The trade was a 0.18% increase in their ownership of the stock. Also, insider Alif Husein Noorani sold 7,432 shares of the business’s stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of C$5.90, for a total value of C$43,848.80. Following the completion of the transaction, the insider directly owned 145 shares of the company’s stock, valued at approximately C$855.50. The trade was a 98.09% decrease in their ownership of the stock. Over the last quarter, insiders acquired 30,997 shares of company stock worth $186,495 and sold 20,442,544 shares worth $133,956,509. 46.88% of the stock is currently owned by corporate insiders.

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.