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

Key Points

• Calfrac Well Services shares rose above their 200-day moving average, reaching C$6.90 before closing at C$6.73, compared with a 200-day average of C$6.27.
• ATB Cormark upgraded the stock from “hold” to “moderate buy” and raised its price target to C$9.00. Analysts have a consensus “Moderate Buy” rating and an average target of C$8.50.
• The company reported quarterly EPS of C$0.32 on revenue of C$426.69 million, while insiders sold 719,154 shares worth about $5.1 million over the past quarter.

Calfrac Well Services Ltd. (TSE:CFW - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$6.27 and traded as high as C$6.90. Calfrac Well Services shares last traded at C$6.73, with a volume of 98,496 shares traded.

Analyst Upgrades and Downgrades

Separately, ATB Cormark Capital Markets raised Calfrac Well Services from a "hold" rating to a "moderate buy" rating and increased their price objective for the company from C$7.50 to C$9.00 in a report on Tuesday, August 11th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of C$8.50.

Calfrac Well Services Price Performance

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$6.73 and a 200 day moving average price of C$6.27. The firm has a market cap of C$679.35 million, a PE ratio of 11.03, a PEG ratio of -0.30 and a beta of -0.26.

Calfrac Well Services (TSE:CFW - Get Free Report) last announced 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 net margin of 4.49% and a return on equity of 8.75%. Sell-side 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 other Calfrac Well Services news, 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 value of C$2,073,200.00. Following the completion of the transaction, the insider directly owned 14,800,000 shares of the company's stock, valued at approximately C$108,040,000. This trade represents a 1.88% decrease in their ownership of the stock. Also, Director Charles Pellerin sold 100,000 shares of the business's stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of C$7.00, for a total value of C$700,000.00. Following the sale, the director directly owned 5,814,123 shares in the company, valued at C$40,698,861. This trade represents a 1.69% decrease in their position. Over the last quarter, insiders sold 719,154 shares of company stock valued at $5,109,271. 46.88% of the stock is owned by company 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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