Insider Buying: Calfrac Well Services (TSE:CFW) Director Acquires C$70,060.00 in Stock

Calfrac Well Services Ltd. (TSE:CFW) Director Charles Pellerin acquired 11,300 shares of the company’s stock in a transaction that occurred on Friday, May 29th. The shares were bought at an average price of C$6.20 per share, with a total value of C$70,060.00. Following the transaction, the director owned 6,222,723 shares in the company, valued at C$38,580,882.60. This represents a 0.18% increase in their position.

Calfrac Well Services Trading Up 3.9%

Calfrac Well Services stock opened at C$6.58 on Tuesday. The stock has a market cap of C$660.75 million, a PE ratio of 14.30, a P/E/G ratio of -0.30 and a beta of -0.21. The stock has a 50-day moving average price of C$5.95 and a 200 day moving average price of C$5.01. Calfrac Well Services Ltd. has a 52 week low of C$3.02 and a 52 week high of C$6.80. 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 posted its quarterly earnings results on Tuesday, May 12th. The company reported C$0.19 EPS for the quarter. The company had revenue of C$305.37 million during the quarter. Calfrac Well Services had a return on equity of 6.49% and a net margin of 3.29%. Equities research analysts predict that Calfrac Well Services Ltd. will post 0.3798828 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have commented on the company. ATB Cormark Capital Markets lifted their price target on Calfrac Well Services from C$7.25 to C$7.50 and gave the company an “outperform” rating in a report on Wednesday, May 13th. Royal Bank Of Canada lifted their price target on Calfrac Well Services from C$7.50 to C$8.00 and gave the company a “sector perform” rating in a report 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 stock. According to MarketBeat.com, Calfrac Well Services has a consensus rating of “Moderate Buy” and an average price target of C$7.75.

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.