Calfrac Well Services (TSE:CFW) Stock Passes Above 200-Day Moving Average – Here’s Why

Calfrac Well Services Ltd. (TSE:CFW) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$5.70 and traded as high as C$6.36. Calfrac Well Services shares last traded at C$6.35, with a volume of 36,201 shares trading hands.

Analysts Set New Price Targets

A number of research firms have weighed in on CFW. Royal Bank Of Canada upped their target price on Calfrac Well Services from C$7.50 to C$8.00 and gave the stock a “sector perform” rating in a report on Wednesday, May 13th. ATB Cormark Capital Markets downgraded Calfrac Well Services from a “moderate buy” rating to a “hold” rating and set a C$7.50 price objective for the company. in a report on Friday, July 10th. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of C$7.75.

Calfrac Well Services Stock Up 2.9%

The stock’s 50 day simple moving average is C$6.26 and its two-hundred day simple moving average is C$5.70. The firm has a market cap of C$638.00 million, a P/E ratio of 13.80, a P/E/G ratio of -0.30 and a beta of -0.37. 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 posted its quarterly earnings results on Tuesday, May 12th. The company reported C$0.19 earnings per share for the quarter. Calfrac Well Services had a return on equity of 6.49% and a net margin of 3.29%.The company had revenue of C$305.37 million for the quarter. As a group, research analysts forecast that Calfrac Well Services Ltd. will post 0.3798828 earnings per share for the current year.

Insider Transactions at Calfrac Well Services

In other news, insider Jeffrey Irwin Ellis sold 7,000 shares of the company’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 transaction, the insider owned 12,043 shares in the company, valued at approximately C$78,279.50. This represents a 36.76% decrease in their ownership of the stock. Also, insider Tyler Dahlseide purchased 9,250 shares of Calfrac Well Services stock in a transaction that occurred on Wednesday, May 13th. The shares were purchased at an average cost of C$5.83 per share, with a total value of C$53,927.50. Following the transaction, the insider directly owned 79,774 shares of the company’s stock, valued at C$465,082.42. This represents a 13.12% increase in their ownership of the stock. Over the last quarter, insiders have bought 30,997 shares of company stock worth $186,495 and have sold 20,456,098 shares worth $134,044,544. 46.88% of the stock is owned by company 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.