Calfrac Well Services (TSE:CFW) Reaches New 12-Month High – Time to Buy?

Calfrac Well Services Ltd. (TSE:CFW)’s share price hit a new 52-week high during trading on Monday. The company traded as high as C$7.36 and last traded at C$7.34, with a volume of 377,359 shares trading hands. The stock had previously closed at C$7.10.

Wall Street Analyst Weigh In

Separately, ATB Cormark Capital Markets raised Calfrac Well Services from a “hold” rating to a “moderate buy” rating and raised their price target for the stock from C$7.50 to C$9.00 in a research note on Tuesday, August 11th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$8.50.

Calfrac Well Services Stock Up 2.5%

The company has a quick ratio of 1.33, a current ratio of 1.52 and a debt-to-equity ratio of 20.48. The company has a market capitalization of C$734.87 million, a P/E ratio of 11.93, a price-to-earnings-growth ratio of -0.30 and a beta of -0.32. The company has a 50-day moving average of C$6.92 and a two-hundred day moving average of C$6.43.

Calfrac Well Services (TSE:CFW) last posted its quarterly earnings data on Thursday, August 6th. The company reported C$0.32 earnings per share (EPS) for the quarter. The business had revenue of C$426.69 million during the quarter. Calfrac Well Services had a return on equity of 8.75% and a net margin of 4.49%. On average, research analysts predict that Calfrac Well Services Ltd. will post 0.38 EPS for the current year.

Insider Buying and Selling

In other news, Director Charles Pellerin sold 100,000 shares of Calfrac Well Services stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of C$7.00, for a total transaction of C$700,000.00. Following the completion of the transaction, the director directly owned 5,814,123 shares in the company, valued at approximately C$40,698,861. This trade represents a 1.69% decrease in their ownership of the stock. Also, insider Sime Armoyan sold 284,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of C$7.30, for a total value of C$2,073,200.00. Following the completion of the sale, the insider directly owned 14,800,000 shares in the company, valued at approximately C$108,040,000. This represents a 1.88% decrease in their ownership of the stock. Insiders have sold 705,600 shares of company stock valued at $5,021,236 over the last quarter. Corporate 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.