Calfrac Well Services (TSE:CFW) Insider Sells 13,000 Shares

Key Points

• Insider sale: Jeffrey Irwin Ellis sold 13,000 Calfrac Well Services shares at an average price of C$6.75, totaling C$87,750 and reducing his ownership by 45.63% to 15,489 shares.
• Stock performance: CFW shares rose 6.0% to C$7.30, near their 12-month high of C$7.35, with trading volume more than double the average.
• Analyst outlook: Recent analyst actions lifted the consensus price target to C$8.50, with the stock carrying a “Moderate Buy” rating; ATB Cormark upgraded it to “Outperform” with a C$9.00 target.

Calfrac Well Services Ltd. (TSE:CFW - Get Free Report) insider Jeffrey Irwin Ellis sold 13,000 shares of the firm's stock in a transaction on Monday, August 10th. The shares were sold at an average price of C$6.75, for a total transaction of C$87,750.00. Following the sale, the insider directly owned 15,489 shares of the company's stock, valued at approximately C$104,550.75. The trade was a 45.63% decrease in their ownership of the stock.

Jeffrey Irwin Ellis also recently made the following trade(s):

• On Friday, June 26th, Jeffrey Irwin Ellis sold 7,000 shares of Calfrac Well Services stock. The stock was sold at an average price of C$6.50, for a total transaction of C$45,500.00.
• On Friday, June 26th, Jeffrey Irwin Ellis sold 6,554 shares of Calfrac Well Services stock. The stock was sold at an average price of C$6.49, for a total transaction of C$42,535.46.

Calfrac Well Services Stock Up 6.0%

TSE:CFW traded up C$0.41 on Tuesday, reaching C$7.30. The stock had a trading volume of 247,674 shares, compared to its average volume of 121,369. The company has a 50-day moving average of C$6.38 and a 200 day moving average of C$5.93. The company has a current ratio of 1.48, a quick ratio of 1.33 and a debt-to-equity ratio of 25.17. The stock has a market cap of C$733.45 million, a P/E ratio of 15.87, a price-to-earnings-growth ratio of -0.30 and a beta of -0.45. Calfrac Well Services Ltd. has a 12-month low of C$3.02 and a 12-month high of C$7.35.

Calfrac Well Services (TSE:CFW - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported C$0.32 earnings per share (EPS) for the quarter. The business had revenue of C$426.69 million for the quarter. Calfrac Well Services had a return on equity of 6.49% and a net margin of 3.29%. On average, research analysts predict that Calfrac Well Services Ltd. will post 0.3798828 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have recently commented on CFW. Royal Bank Of Canada increased their target price on Calfrac Well Services from C$7.50 to C$8.00 and gave the company a "sector perform" rating in a research note on Wednesday, May 13th. ATB Cormark Capital Markets raised shares of Calfrac Well Services from a "sector perform" rating to an "outperform" rating and upped their price target for the company from C$7.50 to C$9.00 in a report on Tuesday. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of C$8.50.

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.

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