Sime Armoyan Sells 15,429,212 Shares of Calfrac Well Services (TSE:CFW) Stock

Calfrac Well Services Ltd. (TSE:CFW) insider Sime Armoyan sold 15,429,212 shares of Calfrac Well Services stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of C$6.50, for a total value of C$100,289,878.00. Following the completion of the sale, the insider directly owned 20,084,000 shares in the company, valued at C$130,546,000. This trade represents a 43.45% decrease in their ownership of the stock.

Sime Armoyan also recently made the following trade(s):

• On Wednesday, June 10th, Sime Armoyan sold 650,000 shares of Calfrac Well Services stock. The stock was sold at an average price of C$6.50, for a total transaction of C$4,225,000.00.
• On Thursday, June 11th, Sime Armoyan sold 4,350,000 shares of Calfrac Well Services stock. The stock was sold at an average price of C$6.75, for a total value of C$29,362,500.00.

Calfrac Well Services Trading Down 1.8%

CFW stock traded down C$0.12 during mid-day trading on Friday, reaching C$6.67. 21,515 shares of the stock traded hands, compared to its average volume of 136,154. The stock has a market capitalization of C$670.15 million, a PE ratio of 14.50, a PEG ratio of -0.30 and a beta of -0.44. The business has a 50-day moving average price of C$5.98 and a two-hundred day moving average price of C$5.20. Calfrac Well Services Ltd. has a one year low of C$3.02 and a one year high of C$7.20. The company has a debt-to-equity ratio of 25.17, a quick ratio of 1.33 and a current ratio of 1.48.

Calfrac Well Services (TSE:CFW) last released its earnings results on Tuesday, May 12th. The company reported C$0.19 EPS for the quarter. The firm had revenue of C$305.37 million for the quarter. Calfrac Well Services had a return on equity of 6.49% and a net margin of 3.29%. Equities research analysts expect that Calfrac Well Services Ltd. will post 0.3798828 EPS for the current year.

Wall Street Analysts Forecast Growth

CFW has been the subject of a number of recent analyst reports. Royal Bank Of Canada raised their price objective on 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. ATB Cormark Capital Markets lifted 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 investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price 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.