Calfrac Well Services (TSE:CFW) Share Price Crosses Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Calfrac Well Services shares moved above their 200-day moving average, trading as high as C$6.44 and last changing hands at C$6.34, a sign of improving short-term momentum.
• Analysts turned slightly more upbeat, with RBC and ATB Cormark both raising price targets; the stock now carries a Moderate Buy consensus and an average target of C$7.75.
• The company recently reported C$0.19 EPS on C$305.37 million in revenue, while insider trading was mixed, including one notable buy and one large sale.

Calfrac Well Services Ltd. (TSE:CFW - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$5.60 and traded as high as C$6.44. Calfrac Well Services shares last traded at C$6.34, with a volume of 48,017 shares traded.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on CFW shares. Royal Bank Of Canada raised 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. ATB Cormark Capital Markets boosted their price objective on Calfrac Well Services from C$7.25 to C$7.50 and gave the stock an "outperform" rating in a report on Wednesday, May 13th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of C$7.75.

Calfrac Well Services Stock Performance

The company has a market cap of C$636.99 million, a P/E ratio of 13.78, a price-to-earnings-growth ratio of -0.30 and a beta of -0.37. The company's 50-day moving average is C$6.15 and its two-hundred day moving average is C$5.60. The company has a quick ratio of 1.33, a current ratio of 1.48 and a debt-to-equity ratio of 25.17.

Calfrac Well Services (TSE:CFW - Get Free Report) last announced its quarterly earnings data on Tuesday, May 12th. The company reported C$0.19 EPS for the quarter. Calfrac Well Services had a net margin of 3.29% and a return on equity of 6.49%. The business had revenue of C$305.37 million for the quarter. Equities analysts predict that Calfrac Well Services Ltd. will post 0.3798828 EPS for the current year.

Insider Buying and Selling at Calfrac Well Services

In other news, insider Tyler Dahlseide bought 9,250 shares of the firm's stock in a transaction on Wednesday, May 13th. The stock was acquired at an average cost of C$5.83 per share, with a total value of C$53,927.50. Following the completion of the transaction, the insider directly owned 79,774 shares of the company's stock, valued at C$465,082.42. This represents a 13.12% increase in their position. Also, insider Alif Husein Noorani sold 7,432 shares of the firm's stock in a transaction 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 directly owned 145 shares of the company's stock, valued at C$855.50. This represents a 98.09% decrease in their ownership of the stock. In the last quarter, insiders purchased 30,997 shares of company stock valued at $186,495 and sold 20,456,098 shares valued at $134,044,544. 46.88% of the stock is currently owned by company 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.

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