Calfrac Well Services (TSE:CFW) Stock Crosses Above 200-Day Moving Average – Here’s What Happened

Calfrac Well Services Ltd. (TSE:CFW)’s stock price passed 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 trading hands.

Wall Street Analysts Forecast Growth

CFW has been the topic of several research reports. Royal Bank Of Canada upped 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. ATB Cormark Capital Markets upped their price objective on shares of Calfrac Well Services from C$7.25 to C$7.50 and gave the company an “outperform” rating in a research note on Wednesday, May 13th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of C$7.75.

Calfrac Well Services Price Performance

The stock’s 50-day moving average is C$5.97 and its 200-day moving average is C$5.17. The firm has a market cap of C$678.19 million, a P/E ratio of 14.67, a price-to-earnings-growth 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 posted its quarterly earnings results on Tuesday, May 12th. The company reported C$0.19 earnings per share for the quarter. The firm had revenue of C$305.37 million for the quarter. Calfrac Well Services had a net margin of 3.29% and a return on equity of 6.49%. As a group, equities analysts anticipate that Calfrac Well Services Ltd. will post 0.3798828 EPS for the current fiscal year.

Insider Buying and Selling at Calfrac Well Services

In other Calfrac Well Services news, Director Charles Pellerin purchased 11,300 shares of the stock in a transaction dated Friday, May 29th. The stock was bought at an average price of C$6.20 per share, for a total transaction of C$70,060.00. Following the transaction, the director directly owned 6,222,723 shares in the company, valued at C$38,580,882.60. This represents a 0.18% increase in their ownership of the stock. Also, insider Tyler Dahlseide purchased 9,250 shares of the stock in a transaction dated Wednesday, May 13th. The shares were acquired at an average price of C$5.83 per share, with a total value of C$53,927.50. Following the transaction, the insider owned 79,774 shares in the company, valued at C$465,082.42. This trade represents a 13.12% increase in their ownership of the stock. In the last 90 days, insiders have purchased 30,997 shares of company stock worth $186,495 and have sold 41,132 shares worth $262,631. 46.88% of the stock is owned by company insiders.

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.