Calfrac Well Services (TSE:CFW) Reaches New 1-Year High - Here's What Happened

Key Points

• Calfrac Well Services shares reached a new 52-week high of C$7.29, up 5.2% from the previous close, with trading volume exceeding 107,000 shares.
• Analyst sentiment remains cautious: the consensus rating is “Hold”, with an average price target of C$7.75. ATB Cormark downgraded the stock to Hold, while RBC raised its target to C$8.00.
• For its latest quarter, Calfrac reported C$0.32 in EPS and C$426.69 million in revenue; insiders have both bought and sold shares recently, while insiders collectively own 46.88% of the company.

Shares of Calfrac Well Services Ltd. (TSE:CFW - Get Free Report) hit a new 52-week high during trading on Tuesday . The company traded as high as C$7.29 and last traded at C$7.29, with a volume of 107013 shares. The stock had previously closed at C$6.89.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. ATB Cormark Capital Markets cut 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 upped their price target on shares of Calfrac Well Services from C$7.50 to C$8.00 and gave the company 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.com, the stock presently has a consensus rating of "Hold" and a consensus price target of C$7.75.

Calfrac Well Services Trading Up 5.2%

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 stock's 50 day moving average price is C$6.38 and its 200-day moving average price is C$5.93. The stock has a market capitalization of C$728.42 million, a PE ratio of 15.76, a PEG ratio of -0.30 and a beta of -0.45.

Calfrac Well Services (TSE:CFW - Get Free Report) last released its quarterly earnings data 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 for the quarter. Calfrac Well Services had a net margin of 3.29% and a return on equity of 6.49%. On average, sell-side analysts expect that Calfrac Well Services Ltd. will post 0.3798828 earnings per share for the current fiscal year.

Insider Activity at Calfrac Well Services

In related news, insider Jeffrey Irwin Ellis sold 7,000 shares of the business's stock in a transaction on Friday, June 26th. The shares were sold at an average price of C$6.50, for a total value of C$45,500.00. Following the sale, the insider owned 12,043 shares in the company, valued at approximately C$78,279.50. The trade was a 36.76% decrease in their ownership of the stock. Also, insider Tyler Dahlseide purchased 9,250 shares of the firm's stock in a transaction that occurred on Wednesday, May 13th. The shares were acquired at an average cost of C$5.83 per share, for a total transaction of C$53,927.50. Following the purchase, the insider owned 79,774 shares of the company's stock, valued at C$465,082.42. This represents a 13.12% increase in their ownership of the stock. In the last 90 days, insiders purchased 30,997 shares of company stock valued at $186,495 and sold 20,456,098 shares valued at $134,044,544. Corporate insiders own 46.88% of the company's stock.

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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