Calfrac Well Services (TSE:CFW) Shares Break Above 50-Day Moving Average – What’s Next?

Calfrac Well Services Ltd. (TSE:CFW) shares passed above its 50 day moving average during trading on Friday. The stock has a 50 day moving average of C$7.00 and traded as high as C$7.02. Calfrac Well Services shares last traded at C$7.02, with a volume of 113,371 shares changing hands.

Wall Street Analyst Weigh In

Separately, ATB Cormark Capital Markets raised Calfrac Well Services from a “hold” rating to a “moderate buy” rating and raised their price objective for the company from C$7.50 to C$9.00 in a research note on Tuesday, August 11th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of C$8.50.

Calfrac Well Services Stock Up 4.6%

The firm’s fifty day moving average is C$7.00 and its 200-day moving average is C$6.26. The company has a market capitalization of C$708.62 million, a P/E ratio of 11.51, a price-to-earnings-growth ratio of -0.30 and a beta of -0.42. The company has a debt-to-equity ratio of 20.48, a quick ratio of 1.33 and a current ratio of 1.52.

Calfrac Well Services (TSE:CFW) last issued its quarterly earnings data on Thursday, August 6th. The company reported C$0.32 EPS for the quarter. The business had revenue of C$426.69 million during the quarter. Calfrac Well Services had a net margin of 4.49% and a return on equity of 8.75%. As a group, equities research analysts predict that Calfrac Well Services Ltd. will post 0.38 EPS for the current year.

Insider Transactions at Calfrac Well Services

In related news, Director Charles Pellerin sold 200,000 shares of the company’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of C$7.00, for a total transaction of C$1,400,000.00. Following the transaction, the director directly owned 6,022,723 shares of the company’s stock, valued at approximately C$42,159,061. This represents a 3.21% decrease in their position. Also, insider Jeffrey Irwin Ellis sold 13,000 shares of the stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of C$6.75, for a total value of C$87,750.00. Following the completion of the transaction, the insider owned 15,489 shares in the company, valued at approximately C$104,550.75. The trade was a 45.63% decrease in their position. Insiders have sold 705,600 shares of company stock valued at $5,021,236 in the last 90 days. 46.88% of the stock is currently owned by corporate insiders.

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.