Calfrac Well Services (TSE:CFW) Share Price Crosses Above 200-Day Moving Average - What's Next?

Key Points

• Calfrac Well Services shares moved above their 200-day moving average, trading as high as C$6.36 and last changing hands at C$6.35. The stock was up 2.9% on the session.
• Analyst sentiment remains mixed but cautious, with ATB Cormark cutting the stock to Hold and RBC raising its target price to C$8.00 while keeping a sector perform rating. The consensus rating is Hold, with a target price of C$7.75.
• Recent insider activity has skewed heavily toward selling, highlighted by Sime Armoyan’s sale of 4.35 million shares. Over the last 90 days, insiders sold about 20.46 million shares versus 30,997 shares bought.

Calfrac Well Services Ltd. (TSE:CFW - Get Free Report) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$5.70 and traded as high as C$6.36. Calfrac Well Services shares last traded at C$6.35, with a volume of 36,201 shares changing hands.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. 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 objective on the stock. in a research report on Friday, July 10th. 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. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of C$7.75.

Calfrac Well Services Stock Up 2.9%

The stock has a market capitalization of C$638.00 million, a P/E ratio of 13.80, a PEG ratio of -0.30 and a beta of -0.37. The stock has a 50 day moving average price of C$6.26 and a 200-day moving average price of C$5.70. The company has a debt-to-equity ratio of 25.17, a current ratio of 1.48 and a quick ratio of 1.33.

Calfrac Well Services (TSE:CFW - Get Free Report) last issued its 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 company had revenue of C$305.37 million during the quarter. As a group, research analysts expect that Calfrac Well Services Ltd. will post 0.3798828 EPS for the current fiscal year.

Insider Buying and Selling at Calfrac Well Services

In related news, insider Sime Armoyan sold 4,350,000 shares of the business's stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of C$6.75, for a total transaction of C$29,362,500.00. Following the transaction, the insider owned 15,084,000 shares in the company, valued at C$101,817,000. The trade was a 22.38% decrease in their position. Also, insider Alif Husein Noorani sold 7,432 shares of the stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of C$5.90, for a total value of C$43,848.80. Following the completion of the sale, the insider owned 145 shares of the company's stock, valued at approximately C$855.50. This trade represents a 98.09% decrease in their position. Over the last ninety days, insiders have bought 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 currently owned by corporate 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.

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