Calfrac Well Services (TSE:CFW) Upgraded at ATB Cormark Capital Markets

ATB Cormark Capital Markets upgraded shares of Calfrac Well Services (TSE:CFW) from a hold rating to a moderate buy rating in a research note issued to investors on Tuesday, MarketBeat Ratings reports. The firm currently has C$9.00 price target on the stock, up from their prior price target of C$7.50.

Separately, Royal Bank Of Canada boosted their target price on shares of Calfrac Well Services from C$7.50 to C$8.00 and gave the stock a “sector perform” rating in a research note on Wednesday, May 13th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Calfrac Well Services presently has a consensus rating of “Moderate Buy” and an average target price of C$8.50.

Calfrac Well Services Stock Down 3.6%

Calfrac Well Services stock opened at C$6.95 on Tuesday. The firm has a market capitalization of C$698.28 million, a P/E ratio of 11.39, a P/E/G ratio of -0.30 and a beta of -0.45. The company has a current ratio of 1.52, a quick ratio of 1.33 and a debt-to-equity ratio of 20.48. Calfrac Well Services has a twelve month low of C$3.02 and a twelve month high of C$7.35. The stock’s fifty day simple moving average is C$6.40 and its 200-day simple moving average is C$5.97.

Calfrac Well Services (TSE:CFW) last posted 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 return on equity of 8.75% and a net margin of 4.49%. As a group, equities analysts expect that Calfrac Well Services will post 0.3798828 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Calfrac Well Services news, insider Alif Husein Noorani sold 7,432 shares of the stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of C$5.90, for a total value of C$43,848.80. Following the transaction, the insider directly owned 145 shares in the company, valued at C$855.50. This represents a 98.09% decrease in their ownership of the stock. Also, Director Charles Pellerin acquired 11,300 shares of the business’s stock in a transaction on Friday, May 29th. The shares were bought at an average cost of C$6.20 per share, for a total transaction of C$70,060.00. Following the acquisition, the director owned 6,222,723 shares of the company’s stock, valued at C$38,580,882.60. This represents a 0.18% increase in their position. In the last three months, insiders have bought 19,400 shares of company stock worth $119,526 and have sold 20,463,198 shares worth $134,097,012. 46.88% of the stock is owned by 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.