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 the firm’s stock in a transaction dated Wednesday, June 10th. The shares were 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 shares were 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 shares were sold at an average price of C$6.75, for a total transaction of C$29,362,500.00.

Calfrac Well Services Stock Down 1.8%

Shares of TSE:CFW traded down C$0.12 during trading on Friday, reaching C$6.67. 21,515 shares of the stock were exchanged, compared to its average volume of 136,154. The company has a debt-to-equity ratio of 25.17, a current ratio of 1.48 and a quick ratio of 1.33. Calfrac Well Services Ltd. has a 1-year low of C$3.02 and a 1-year high of C$7.20. The stock has a fifty day moving average of C$5.98 and a two-hundred day moving average of C$5.20. The firm has a market cap of C$670.15 million, a price-to-earnings ratio of 14.50, a price-to-earnings-growth ratio of -0.30 and a beta of -0.44.

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

Analyst Ratings Changes

CFW has been the subject of several research reports. ATB Cormark Capital Markets upped their price target on shares of Calfrac Well Services from C$7.25 to C$7.50 and gave the company an “outperform” rating in a research report on Wednesday, May 13th. Royal Bank Of Canada raised their price target on Calfrac Well Services from C$7.50 to C$8.00 and gave the stock a “sector perform” rating in a research note on Wednesday, May 13th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of C$7.75.

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.