Insider Selling: Calfrac Well Services (TSE:CFW) Insider Sells 4,350,000 Shares of Stock

Calfrac Well Services Ltd. (TSE:CFW) insider Sime Armoyan sold 4,350,000 shares of the stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of C$6.75, for a total transaction of C$29,362,500.00. Following the completion of the transaction, the insider directly owned 15,084,000 shares of the company’s stock, valued at C$101,817,000. The trade was a 22.38% decrease in their ownership of the stock.

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 stock was sold at an average price of C$6.50, for a total value of C$100,289,878.00.
• On Wednesday, June 10th, Sime Armoyan sold 650,000 shares of Calfrac Well Services stock. The stock was sold at an average price of C$6.50, for a total value of C$4,225,000.00.

Calfrac Well Services Stock Performance

CFW stock traded down C$0.12 during midday trading on Friday, reaching C$6.67. The stock had a trading volume of 21,515 shares, compared to its average volume of 136,154. The stock has a market cap of C$670.15 million, a PE ratio of 14.50, a P/E/G ratio of -0.30 and a beta of -0.44. The company has a debt-to-equity ratio of 25.17, a quick ratio of 1.33 and a current ratio of 1.48. The firm has a fifty day simple moving average of C$5.98 and a two-hundred day simple moving average of C$5.20. Calfrac Well Services Ltd. has a 52-week low of C$3.02 and a 52-week high of C$7.20.

Calfrac Well Services (TSE:CFW) last issued its earnings results on Tuesday, May 12th. The company reported C$0.19 earnings per share (EPS) for the quarter. The company had revenue of C$305.37 million during the quarter. Calfrac Well Services had a return on equity of 6.49% and a net margin of 3.29%. As a group, equities research analysts anticipate that Calfrac Well Services Ltd. will post 0.3798828 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. ATB Cormark Capital Markets raised their price target on shares of Calfrac Well Services from C$7.25 to C$7.50 and gave the stock an “outperform” rating in a research report on Wednesday, May 13th. Royal Bank Of Canada lifted 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. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of C$7.75.

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.