Calfrac Well Services (TSE:CFW) Releases Quarterly Earnings Results

Calfrac Well Services (TSE:CFW) released its earnings results on Thursday. The company reported C$0.32 earnings per share (EPS) for the quarter, FiscalAI reports. The company had revenue of C$426.69 million during the quarter. Calfrac Well Services had a return on equity of 6.49% and a net margin of 3.29%.

Calfrac Well Services Stock Performance

CFW traded up C$0.13 on Thursday, hitting C$6.33. The company’s stock had a trading volume of 32,614 shares, compared to its average volume of 120,237. Calfrac Well Services has a 12 month low of C$3.02 and a 12 month high of C$7.20. The firm has a market cap of C$635.99 million, a P/E ratio of 13.76, a price-to-earnings-growth ratio of -0.30 and a beta of -0.45. The company has a quick ratio of 1.33, a current ratio of 1.48 and a debt-to-equity ratio of 25.17. The company’s 50 day simple moving average is C$6.36 and its 200-day simple moving average is C$5.89.

Analyst Ratings Changes

A number of research firms recently commented on CFW. ATB Cormark Capital Markets cut shares of Calfrac Well Services from a “moderate buy” rating to a “hold” rating and set a C$7.50 price target on the stock. in a report on Friday, July 10th. Royal Bank Of Canada raised their target price on 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. Two research analysts have rated the stock with a Hold rating, According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of C$7.75.

Insider Buying and Selling at Calfrac Well Services

In related news, insider Tyler Dahlseide bought 9,250 shares of the company’s stock in a transaction on Wednesday, May 13th. The shares were purchased at an average price of C$5.83 per share, for a total transaction of C$53,927.50. Following the completion of the transaction, the insider directly owned 79,774 shares in the company, valued at approximately C$465,082.42. The trade was a 13.12% increase in their position. Also, Director Charles Pellerin purchased 11,300 shares of the business’s stock in a transaction dated Friday, May 29th. The stock was bought at an average cost of C$6.20 per share, with a total value of C$70,060.00. Following the completion of the acquisition, the director directly owned 6,222,723 shares of the company’s stock, valued at approximately C$38,580,882.60. This trade represents a 0.18% increase in their ownership of the stock. Over the last three months, insiders have purchased 30,997 shares of company stock worth $186,495 and have sold 20,456,098 shares worth $134,044,544. 46.88% of the stock is owned by insiders.

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.