Calfrac Well Services (TSE:CFW) Announces Earnings Results

Calfrac Well Services (TSE:CFW) announced its quarterly earnings data on Tuesday. The company reported C$0.16 EPS for the quarter, FiscalAI reports. Calfrac Well Services had a net margin of 4.49% and a return on equity of 8.75%. The company had revenue of C$365.71 million for the quarter.

Calfrac Well Services Stock Performance

Shares of Calfrac Well Services stock traded down C$0.75 during trading hours on Wednesday, reaching C$6.55. 509,254 shares of the stock traded hands, compared to its average volume of 122,336. Calfrac Well Services has a one year low of C$3.02 and a one year high of C$8.07. The firm has a market capitalization of C$661.18 million, a price-to-earnings ratio of 10.74, a P/E/G ratio of -0.30 and a beta of -0.42. The company has a quick ratio of 1.33, a current ratio of 1.52 and a debt-to-equity ratio of 20.48. The company has a 50 day moving average price of C$7.01 and a 200 day moving average price of C$6.28.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Calfrac Well Services

In related news, Director Charles Pellerin sold 200,000 shares of the business’s stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of C$7.00, for a total transaction of C$1,400,000.00. Following the completion of the sale, the director directly owned 6,022,723 shares in the company, valued at approximately C$42,159,061. The trade was a 3.21% decrease in their ownership of the stock. In the last quarter, insiders have sold 408,600 shares of company stock valued at $2,860,286. 46.88% of the stock is 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.