Calfrac Well Services (TSE:CFW) Shares Pass Above Two Hundred Day Moving Average – Here’s What Happened

Calfrac Well Services Ltd. (TSE:CFW) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$5.88 and traded as high as C$6.28. Calfrac Well Services shares last traded at C$6.20, with a volume of 35,309 shares changing hands.

Wall Street Analyst Weigh In

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

Calfrac Well Services Price Performance

The firm has a 50-day simple moving average of C$6.36 and a two-hundred day simple moving average of C$5.89. The company has a market capitalization of C$635.99 million, a price-to-earnings ratio of 13.76, a P/E/G ratio of -0.30 and a beta of -0.45. The company has a current ratio of 1.48, a quick ratio of 1.33 and a debt-to-equity ratio of 25.17.

Calfrac Well Services (TSE:CFW) last released its quarterly earnings data on Thursday, August 6th. The company reported C$0.32 earnings per share for the quarter. The business had revenue of C$426.69 million during the quarter. Calfrac Well Services had a return on equity of 6.49% and a net margin of 3.29%. As a group, analysts predict that Calfrac Well Services Ltd. will post 0.3798828 earnings per share for the current fiscal year.

Insider Activity at Calfrac Well Services

In related news, insider Tyler Dahlseide purchased 9,250 shares of the firm’s stock in a transaction on Wednesday, May 13th. The stock was bought at an average cost of C$5.83 per share, with a total value of C$53,927.50. Following the completion of the acquisition, the insider owned 79,774 shares of the company’s stock, valued at C$465,082.42. The trade was a 13.12% increase in their position. Also, insider Jeffrey Irwin Ellis sold 7,000 shares of the company’s stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of C$6.50, for a total value of C$45,500.00. Following the completion of the sale, the insider owned 12,043 shares in the company, valued at approximately C$78,279.50. This represents a 36.76% decrease in their position. In the last 90 days, insiders bought 30,997 shares of company stock valued at $186,495 and sold 20,456,098 shares valued at $134,044,544. 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.