Calfrac Well Services (TSE:CFW) Stock Passes Above Two Hundred Day Moving Average - Should You Sell?

Key Points

• Calfrac Well Services shares crossed above their 200-day moving average, reaching C$7.03 before closing at C$6.88, compared with a 200-day average of C$6.22.
• ATB Cormark upgraded the stock to “moderate buy” and raised its price target to C$9.00. Analysts’ consensus rating is “Moderate Buy,” with an average target of C$8.50.
• The company reported quarterly EPS of C$0.32 on C$426.69 million in revenue, but insiders sold 719,154 shares worth approximately C$5.1 million in the last quarter while retaining a 46.88% ownership stake.

Calfrac Well Services Ltd. (TSE:CFW - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$6.22 and traded as high as C$7.03. Calfrac Well Services shares last traded at C$6.88, with a volume of 89,932 shares traded.

Analysts Set New Price Targets

Separately, ATB Cormark Capital Markets raised shares of 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 given a Hold rating to the company. Based on data from MarketBeat.com, Calfrac Well Services presently 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 debt-to-equity ratio of 20.48, a current ratio of 1.52 and a quick ratio of 1.33. The stock has a market cap of C$694.49 million, a PE ratio of 11.28, a P/E/G ratio of -0.30 and a beta of -0.26. The business has a fifty day moving average of C$6.65 and a 200 day moving average of C$6.22.

Calfrac Well Services (TSE:CFW - Get Free Report) last issued its quarterly 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 net margin of 4.49% and a return on equity of 8.75%. Sell-side analysts anticipate that Calfrac Well Services Ltd. will post 0.3798828 earnings per share for the current year.

Insider Activity at Calfrac Well Services

In other news, 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 transaction of C$700,000.00. Following the completion of the transaction, the director directly owned 5,814,123 shares in the company, valued at approximately C$40,698,861. The trade was a 1.69% decrease in their ownership of the stock. Also, insider Sime Armoyan sold 284,000 shares of the stock in a transaction on Tuesday, August 11th. The stock was 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. The trade was a 1.88% decrease in their position. Insiders sold a total of 719,154 shares of company stock valued at $5,109,271 in the last quarter. 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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