Calfrac Well Services (TSE:CFW) Shares Pass Above 200-Day Moving Average - Here's Why

Key Points

• Calfrac Well Services shares rose above their 200-day moving average, reaching C$7.01 and last trading at C$6.99, up 1.9% with a market capitalization of approximately C$705.6 million.
• Analyst sentiment improved after ATB Cormark upgraded the stock to “moderate buy” and raised its target to C$9.00. The consensus rating is “Moderate Buy,” with an average price target of C$8.50.
• Calfrac reported quarterly EPS of C$0.32 on revenue of C$426.69 million, while insider activity was mixed: insiders purchased about $104,126 of shares but sold approximately $136.1 million during the past quarter.

Calfrac Well Services Ltd. (TSE:CFW - Get Free Report)'s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$6.05 and traded as high as C$7.01. Calfrac Well Services shares last traded at C$6.99, with a volume of 134,314 shares.

Analysts Set New Price Targets

CFW has been the subject of several recent analyst reports. ATB Cormark Capital Markets raised Calfrac Well Services from a "hold" rating to a "moderate buy" rating and lifted their price target for the stock from C$7.50 to C$9.00 in a research report on Tuesday, August 11th. Royal Bank Of Canada lifted their target price on shares of Calfrac Well Services from C$7.50 to C$8.00 and gave the stock a "sector perform" rating in a report on Wednesday, May 13th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of C$8.50.

Calfrac Well Services Stock Up 1.9%

The stock has a market cap of C$705.59 million, a PE ratio of 11.46, a PEG ratio of -0.30 and a beta of -0.45. The company has a debt-to-equity ratio of 20.48, a current ratio of 1.52 and a quick ratio of 1.33. The company has a 50 day moving average price of C$6.47 and a two-hundred day moving average price of C$6.05.

Calfrac Well Services (TSE:CFW - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported C$0.32 EPS for the quarter. The company 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%. Analysts expect that Calfrac Well Services Ltd. will post 0.3798828 EPS for the current year.

Insider Activity at Calfrac Well Services

In related news, Director Charles Pellerin bought 11,300 shares of the company's stock in a transaction that occurred on Friday, May 29th. The shares were bought at an average price of C$6.20 per share, for a total transaction of C$70,060.00. Following the completion of the acquisition, the director owned 6,222,723 shares of the company's stock, valued at C$38,580,882.60. This trade represents a 0.18% increase in their position. Also, insider Sime Armoyan sold 15,429,212 shares of Calfrac Well Services stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of C$6.50, for a total transaction of C$100,289,878.00. Following the completion of the sale, the insider directly owned 20,084,000 shares of the company's stock, valued at approximately C$130,546,000. This trade represents a 43.45% decrease in their position. Over the last quarter, insiders have purchased 16,900 shares of company stock worth $104,126 and have sold 20,739,766 shares worth $136,126,363. 46.88% of the stock is owned by 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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