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

Shares of Calfrac Well Services Ltd. (TSE:CFW) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$5.70 and traded as high as C$6.36. Calfrac Well Services shares last traded at C$6.35, with a volume of 36,201 shares traded.

Analysts Set New Price Targets

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

Calfrac Well Services Price Performance

The company has a debt-to-equity ratio of 25.17, a current ratio of 1.48 and a quick ratio of 1.33. The company’s 50-day moving average price is C$6.26 and its 200-day moving average price is C$5.70. The company has a market cap of C$638.00 million, a P/E ratio of 13.80, a P/E/G ratio of -0.30 and a beta of -0.37.

Calfrac Well Services (TSE:CFW) last posted its quarterly earnings data on Tuesday, May 12th. The company reported C$0.19 EPS for the quarter. The business 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, sell-side analysts predict that Calfrac Well Services Ltd. will post 0.3798828 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Alif Husein Noorani sold 7,432 shares of the company’s stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of C$5.90, for a total transaction of C$43,848.80. Following the completion of the transaction, the insider directly owned 145 shares of the company’s stock, valued at C$855.50. This represents a 98.09% decrease in their ownership of the stock. Also, Director Charles Pellerin acquired 11,300 shares of the firm’s stock in a transaction that occurred on Friday, May 29th. The shares were purchased at an average price of C$6.20 per share, with a total value of C$70,060.00. Following the completion of the acquisition, the director 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 purchased 30,997 shares of company stock valued at $186,495 and sold 20,456,098 shares valued at $134,044,544. 46.88% of the stock is currently 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.