Calfrac Well Services (TSE:CFW) Stock Breaks Above 200-Day Moving Average – What’s Next?

Calfrac Well Services Ltd. (TSE:CFW)’s stock price passed above its two hundred day moving average during trading on Tuesday. The stock has a two hundred day moving average of C$6.27 and traded as high as C$6.90. Calfrac Well Services shares last traded at C$6.73, with a volume of 98,496 shares trading hands.

Analysts Set New Price Targets

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

Calfrac Well Services Stock Performance

The company has a debt-to-equity ratio of 20.48, a quick ratio of 1.33 and a current ratio of 1.52. The company has a market cap of C$699.53 million, a PE ratio of 11.36, a price-to-earnings-growth ratio of -0.30 and a beta of -0.26. The company’s 50 day moving average price is C$6.74 and its 200-day moving average price is C$6.28.

Calfrac Well Services (TSE:CFW) last announced its quarterly earnings data on Thursday, August 6th. The company reported C$0.32 earnings per share for the quarter. The business had revenue of C$426.69 million during the quarter. Calfrac Well Services had a return on equity of 8.75% and a net margin of 4.49%. Equities research analysts anticipate that Calfrac Well Services Ltd. will post 0.3798828 earnings per share for the current fiscal year.

Insider Transactions at Calfrac Well Services

In other Calfrac Well Services news, insider Sime Armoyan sold 284,000 shares of the company’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of C$7.30, for a total transaction of C$2,073,200.00. Following the sale, the insider directly owned 14,800,000 shares of the company’s stock, valued at C$108,040,000. This represents a 1.88% decrease in their ownership of the stock. Also, Director Charles Pellerin sold 200,000 shares of the stock in a transaction dated 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 owned 6,022,723 shares of the company’s stock, valued at C$42,159,061. This represents a 3.21% decrease in their position. In the last 90 days, insiders sold 719,154 shares of company stock worth $5,109,271. 46.88% of the stock is owned by company 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.