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

Calfrac Well Services Ltd. (TSE:CFW - Get Free Report) passed above its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of C$6.39 and traded as high as C$6.74. Calfrac Well Services shares last traded at C$6.69, with a volume of 138,464 shares traded.

Wall Street Analyst Weigh In

Separately, ATB Cormark Capital Markets upgraded Calfrac Well Services from a "hold" rating to a "moderate buy" rating and increased their target price for the stock from C$7.50 to C$9.00 in a research report on Tuesday, August 11th. One equities research 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.com, the stock has an average rating of "Moderate Buy" and an average price target of C$8.50.

Calfrac Well Services Price Performance

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 firm's fifty day moving average price is C$6.84 and its 200 day moving average price is C$6.39. The stock has a market cap of C$675.31 million, a PE ratio of 10.97, a P/E/G ratio of -0.30 and a beta of -0.32.

Calfrac Well Services (TSE:CFW - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported C$0.32 earnings per share (EPS) for the quarter. The company had revenue of C$426.69 million for the quarter. Calfrac Well Services had a net margin of 4.49% and a return on equity of 8.75%. As a group, equities analysts expect that Calfrac Well Services Ltd. will post 0.3798828 EPS for the current fiscal year.

Insider Activity

In other news, insider Jeffrey Irwin Ellis sold 13,000 shares of Calfrac Well Services stock in a transaction dated Monday, August 10th. The stock was sold at an average price of C$6.75, for a total value of C$87,750.00. Following the sale, the insider directly owned 15,489 shares of the company's stock, valued at approximately C$104,550.75. The trade was a 45.63% decrease in their ownership of the stock. Also, Director Charles Pellerin sold 200,000 shares of the business's stock in a transaction dated Monday, August 24th. The stock was sold at an average price of C$7.00, for a total value of C$1,400,000.00. Following the completion of the sale, the director owned 6,022,723 shares in the company, valued at C$42,159,061. This represents a 3.21% decrease in their ownership of the stock. Insiders sold a total of 705,600 shares of company stock worth $5,021,236 over the last 90 days. Corporate insiders own 46.88% of the company's stock.

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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