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

Shares of Calfrac Well Services Ltd. (TSE:CFW) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$5.12 and traded as high as C$6.24. Calfrac Well Services shares last traded at C$6.14, with a volume of 107,670 shares.

Wall Street Analyst Weigh In

CFW has been the topic of a number of recent analyst reports. Royal Bank Of Canada upped their price target on Calfrac Well Services from C$7.50 to C$8.00 and gave the stock a “sector perform” rating in a research report on Wednesday, May 13th. ATB Cormark Capital Markets upped their price target 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 research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Calfrac Well Services presently has a consensus rating of “Moderate Buy” and a consensus target price of C$7.75.

Calfrac Well Services Stock Performance

The business has a 50-day moving average price of C$5.97 and a 200-day moving average price of C$5.12. The firm has a market capitalization of C$616.90 million, a price-to-earnings ratio of 13.35, a P/E/G 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 issued its quarterly earnings results on Tuesday, May 12th. The company reported C$0.19 earnings per share (EPS) for the quarter. Calfrac Well Services had a return on equity of 6.49% and a net margin of 3.29%.The business had revenue of C$305.37 million for the quarter. As a group, sell-side 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, Director Charles Pellerin bought 11,300 shares of the business’s stock in a transaction that occurred on Friday, May 29th. The shares were purchased at an average cost of C$6.20 per share, with a total value of C$70,060.00. Following the transaction, the director directly owned 6,222,723 shares in the company, valued at approximately 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 company’s stock in a transaction on Tuesday, May 19th. The shares were 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 in the company, valued at approximately C$855.50. The trade was a 98.09% decrease in their ownership of the stock. In the last quarter, insiders bought 30,997 shares of company stock valued at $186,495 and sold 41,132 shares valued at $262,631. Company insiders own 46.88% of the company’s stock.

About Calfrac Well Services

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.