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

Calfrac Well Services Ltd. (TSE:CFW)’s stock price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred 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 trading hands.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Royal Bank Of Canada lifted 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 note on Wednesday, May 13th. ATB Cormark Capital Markets raised their target price on shares of Calfrac Well Services from C$7.25 to C$7.50 and gave the stock an “outperform” rating in a 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$7.75.

Calfrac Well Services Stock Performance

The firm’s 50 day simple moving average is C$6.06 and its 200-day simple moving average is C$5.48. The company has a market capitalization of C$647.04 million, a price-to-earnings ratio of 14.00, a P/E/G ratio of -0.30 and a beta of -0.44. The company has a debt-to-equity ratio of 25.17, a quick ratio of 1.33 and a current ratio of 1.48.

Calfrac Well Services (TSE:CFW) last issued its quarterly earnings results on Tuesday, May 12th. The company reported C$0.19 earnings per share for the quarter. The business had revenue of C$305.37 million for the quarter. Calfrac Well Services had a return on equity of 6.49% and a net margin of 3.29%. Analysts expect that Calfrac Well Services Ltd. will post 0.3798828 EPS for the current year.

Insider Activity at Calfrac Well Services

In related news, insider Jeffrey Irwin Ellis sold 7,000 shares of the firm’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 transaction of C$45,500.00. Following the completion of the sale, the insider directly owned 12,043 shares in the company, valued at approximately C$78,279.50. This trade represents a 36.76% decrease in their ownership of the stock. Also, Director Charles Pellerin acquired 11,300 shares of the stock in a transaction that occurred on Friday, May 29th. The shares were bought at an average cost of C$6.20 per share, for a total transaction of C$70,060.00. Following the completion of the transaction, the director directly owned 6,222,723 shares of the company’s stock, valued at C$38,580,882.60. This represents a 0.18% increase in their position. 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. Insiders own 46.88% of the company’s stock.

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.