Calfrac Well Services (TSE:CFW) Insider Sime Armoyan Sells 4,350,000 Shares

Calfrac Well Services Ltd. (TSE:CFW) insider Sime Armoyan sold 4,350,000 shares of Calfrac Well Services stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of C$6.75, for a total value of C$29,362,500.00. Following the completion of the transaction, the insider owned 15,084,000 shares of the company’s stock, valued at approximately C$101,817,000. This represents a 22.38% decrease in their position.

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

• On Wednesday, June 10th, Sime Armoyan sold 15,429,212 shares of Calfrac Well Services stock. The shares were sold at an average price of C$6.50, for a total value of C$100,289,878.00.
• 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 value of C$4,225,000.00.

Calfrac Well Services Price Performance

Shares of Calfrac Well Services stock traded down C$0.12 on Friday, hitting C$6.67. The company’s stock had a trading volume of 21,515 shares, compared to its average volume of 136,154. 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 Ltd. has a 1 year low of C$3.02 and a 1 year high of C$7.20. The firm has a fifty day moving average price of C$5.98 and a 200-day moving average price of C$5.20. The company has a market capitalization 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 announced its quarterly earnings results on Tuesday, May 12th. The company reported C$0.19 earnings per share for the quarter. Calfrac Well Services had a return on equity of 6.49% and a net margin of 3.29%.The firm had revenue of C$305.37 million during the quarter. As a group, sell-side analysts anticipate that Calfrac Well Services Ltd. will post 0.3798828 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. ATB Cormark Capital Markets boosted their price target on shares of Calfrac Well Services from C$7.25 to C$7.50 and gave the stock an “outperform” rating in a report on Wednesday, May 13th. Royal Bank Of Canada upped 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 report on Wednesday, May 13th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Calfrac Well Services currently has a consensus rating of “Moderate Buy” and a consensus 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.