Calfrac Well Services (TSE:CFW) Stock Crosses Above Two Hundred Day Moving Average – Should You Sell?

Calfrac Well Services Ltd. (TSE:CFW)’s stock price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$6.15 and traded as high as C$7.02. Calfrac Well Services shares last traded at C$6.97, with a volume of 42,873 shares changing hands.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Royal Bank Of Canada raised their target price on shares of 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 raised Calfrac Well Services from a “hold” rating to a “moderate buy” rating and increased their price target for the stock from C$7.50 to C$9.00 in a research note on Tuesday, August 11th. One equities research 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 a consensus target price of C$8.50.

Calfrac Well Services Stock Performance

The company has a market cap of C$707.61 million, a price-to-earnings ratio of 11.49, a P/E/G ratio of -0.30 and a beta of -0.26. The company has a current ratio of 1.52, a quick ratio of 1.33 and a debt-to-equity ratio of 20.48. The stock’s 50 day moving average price is C$6.57 and its 200 day moving average price is C$6.16.

Calfrac Well Services (TSE:CFW) last released its earnings results on Thursday, August 6th. The company reported C$0.32 earnings per share (EPS) for the quarter. The firm 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%. On average, analysts expect that Calfrac Well Services Ltd. will post 0.3798828 EPS for the current fiscal year.

Insider Buying and Selling at Calfrac Well Services

In other Calfrac Well Services news, insider Jeffrey Irwin Ellis sold 13,000 shares of the company’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of C$6.75, for a total transaction of C$87,750.00. Following the completion of the sale, the insider directly owned 15,489 shares in the company, valued at C$104,550.75. This represents a 45.63% decrease in their ownership of the stock. Also, Director Charles Pellerin sold 8,600 shares of Calfrac Well Services stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of C$7.01, for a total value of C$60,286.00. Following the completion of the transaction, the director directly owned 6,014,123 shares in the company, valued at C$42,159,002.23. This represents a 0.14% decrease in their ownership of the stock. Over the last 90 days, insiders sold 20,948,366 shares of company stock valued at $137,586,649. Company insiders own 46.88% of the company’s stock.

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.