Insider Selling: Calfrac Well Services (TSE:CFW) Insider Sells 284,000 Shares of Stock

Key Points

• Insider sale: Sime Armoyan sold 284,000 Calfrac Well Services shares at an average C$7.30, generating C$2.07 million. His remaining stake fell 1.88% to 14.8 million shares.
• Stock performance: Calfrac shares recently traded at C$6.96, near their 52-week high of C$7.35, with a market capitalization of approximately C$699 million.
• Analyst outlook: Analysts maintain a “Moderate Buy” consensus, with an average price target of C$8.50; ATB Cormark raised its rating to “moderate buy” and target to C$9.00.

Calfrac Well Services Ltd. (TSE:CFW - Get Free Report) insider Sime Armoyan sold 284,000 shares of the stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of C$7.30, for a total transaction of C$2,073,200.00. Following the transaction, the insider owned 14,800,000 shares of the company's stock, valued at approximately C$108,040,000. The trade was a 1.88% decrease in their position.

Sime Armoyan also recently made the following trade(s):

• On Wednesday, June 10th, Sime Armoyan sold 15,429,212 shares of Calfrac Well Services stock. The shares were sold at an average price of C$6.50, for a total transaction of C$100,289,878.00.
• On Wednesday, June 10th, Sime Armoyan sold 650,000 shares of Calfrac Well Services stock. The shares were sold at an average price of C$6.50, for a total transaction of C$4,225,000.00.
• On Thursday, June 11th, Sime Armoyan sold 4,350,000 shares of Calfrac Well Services stock. The stock was sold at an average price of C$6.75, for a total transaction of C$29,362,500.00.

Calfrac Well Services Stock Performance

Calfrac Well Services stock traded up C$0.01 during trading on Friday, hitting C$6.96. The stock had a trading volume of 18,336 shares, compared to its average volume of 120,563. Calfrac Well Services Ltd. has a 1 year low of C$3.02 and a 1 year high of C$7.35. The company has a quick ratio of 1.33, a current ratio of 1.52 and a debt-to-equity ratio of 20.48. The stock's 50 day moving average is C$6.40 and its two-hundred day moving average is C$5.97. The stock has a market cap of C$699.29 million, a price-to-earnings ratio of 11.41, a price-to-earnings-growth ratio of -0.30 and a beta of -0.45.

Calfrac Well Services (TSE:CFW - Get Free Report) last released 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 during the quarter. Calfrac Well Services had a return on equity of 8.75% and a net margin of 4.49%. As a group, analysts predict that Calfrac Well Services Ltd. will post 0.3798828 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Royal Bank Of Canada boosted their price objective 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 upgraded shares of Calfrac Well Services from a "hold" rating to a "moderate buy" rating and lifted their target price for the stock from C$7.50 to C$9.00 in a research note on Tuesday. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Calfrac Well Services has an average rating of "Moderate Buy" and an average target price of C$8.50.

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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