Calfrac Well Services (TSE:CFW) Price Target Raised to C$5.00 at Royal Bank of Canada

Calfrac Well Services (TSE:CFW) had its target price increased by Royal Bank of Canada from C$4.50 to C$5.00 in a research note published on Friday morning, BayStreet.CA reports. Royal Bank of Canada currently has a sector perform rating on the stock.

Several other analysts have also recently issued reports on CFW. Stifel Nicolaus cut their target price on Calfrac Well Services from C$5.00 to C$4.50 and set a hold rating on the stock in a research note on Wednesday, May 8th. ATB Capital cut their target price on Calfrac Well Services from C$6.00 to C$5.00 and set a sector perform rating on the stock in a research note on Friday.

Calfrac Well Services Stock Down 5.8 %

TSE CFW opened at C$4.09 on Friday. The company has a debt-to-equity ratio of 54.34, a current ratio of 2.57 and a quick ratio of 1.33. The stock has a market capitalization of C$350.59 million, a PE ratio of 1.83, a PEG ratio of -0.30 and a beta of 1.79. Calfrac Well Services has a 1 year low of C$3.75 and a 1 year high of C$6.20. The business’s 50-day moving average is C$4.19 and its 200 day moving average is C$4.44.

Calfrac Well Services (TSE:CFW) last posted its earnings results on Tuesday, May 7th. The company reported C($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of C($0.01) by C($0.02). The business had revenue of C$330.10 million during the quarter, compared to the consensus estimate of C$343.90 million. Calfrac Well Services had a return on equity of 29.25% and a net margin of 8.83%. Sell-side analysts forecast that Calfrac Well Services will post 0.6198582 earnings per share for the current year.

Insider Buying and Selling at Calfrac Well Services

In related news, Director Charles Pellerin bought 700,000 shares of the firm’s stock in a transaction on Thursday, May 16th. The stock was acquired at an average cost of C$4.15 per share, for a total transaction of C$2,905,000.00. In related news, Director Charles Pellerin bought 700,000 shares of the firm’s stock in a transaction on Thursday, May 16th. The stock was acquired at an average cost of C$4.15 per share, for a total transaction of C$2,905,000.00. Also, insider Sime Armoyan bought 25,000 shares of the firm’s stock in a transaction on Wednesday, June 19th. The shares were bought at an average price of C$3.93 per share, with a total value of C$98,250.00. In the last three months, insiders have bought 1,404,000 shares of company stock valued at $5,706,881. 46.88% of the stock is currently owned by corporate insiders.

About Calfrac Well Services

Calfrac Well Services Ltd., together with its subsidiaries, provides specialized oilfield services in Canada, the United States, and Argentina. It offers hydraulic fracturing, coiled tubing, cementing, and other well completion services for the oil and natural gas industry. The company was founded in 1999 and is headquartered in Calgary, Canada.