Calfrac Well Services (TSE:CFW) Shares Pass Above 200 Day Moving Average - Should You Sell?

Key Points

• Calfrac Well Services shares rose above their 200-day moving average, reaching C$7.02 before closing at C$6.97, compared with the 200-day average of C$6.15.
• Analyst sentiment is generally positive: ATB Cormark upgraded the stock to “moderate buy” and raised its target to C$9.00, while the consensus rating is “Moderate Buy” with an C$8.50 price target.
• The company reported quarterly EPS of C$0.32 on C$426.69 million in revenue, but insiders have sold significant holdings recently; insiders still own 46.88% of the company.

Shares of Calfrac Well Services Ltd. (TSE:CFW - Get Free Report) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$6.15 and traded as high as C$7.02. Calfrac Well Services shares last traded at C$6.97, with a volume of 42,873 shares.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. 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 research report on Tuesday, August 11th. Royal Bank Of Canada boosted their target price on Calfrac Well Services from C$7.50 to C$8.00 and gave the stock a "sector perform" rating in a research 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. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of C$8.50.

Calfrac Well Services Stock Down 0.4%

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 company's fifty day moving average is C$6.56 and its 200-day moving average is C$6.15. The company has a market cap of C$703.57 million, a PE ratio of 11.43, a PEG ratio of -0.30 and a beta of -0.45.

Calfrac Well Services (TSE:CFW - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported C$0.32 earnings per share for the quarter. The business 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%. On average, analysts predict that Calfrac Well Services Ltd. will post 0.3798828 EPS for the current year.

Insider Buying and Selling

In related news, insider Sime Armoyan sold 284,000 shares of the company's stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of C$7.30, for a total transaction of C$2,073,200.00. Following the completion of the sale, the insider owned 14,800,000 shares in the company, valued at approximately C$108,040,000. This represents a 1.88% decrease in their ownership of the stock. Also, Director Charles Pellerin sold 8,600 shares of the stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of C$7.01, for a total value of C$60,286.00. Following the completion of the transaction, the director directly owned 6,014,123 shares in the company, valued at approximately C$42,159,002.23. This represents a 0.14% decrease in their position. Insiders sold 20,948,366 shares of company stock valued at $137,586,649 over the last 90 days. Company insiders own 46.88% of the company's stock.

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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