Shares of Calfrac Well Services Ltd. (TSE:CFW – Get Free Report) traded up 11.6% during mid-day trading on Wednesday . The company traded as high as C$7.00 and last traded at C$6.91. 205,021 shares were traded during trading, an increase of 50% from the average session volume of 136,330 shares. The stock had previously closed at C$6.19.
Wall Street Analysts Forecast Growth
CFW has been the topic of several recent research reports. Royal Bank Of Canada raised their price target on shares of Calfrac Well Services from C$7.50 to C$8.00 and gave the company a “sector perform” rating in a research report on Wednesday, May 13th. 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 company an “outperform” rating in a research report on Wednesday, May 13th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$7.75.
View Our Latest Report on Calfrac Well Services
Calfrac Well Services Stock Performance
Calfrac Well Services (TSE:CFW – Get Free Report) last posted its quarterly earnings results on Tuesday, May 12th. The company reported C$0.19 EPS for the quarter. The company had revenue of C$305.37 million for the quarter. Calfrac Well Services had a net margin of 3.29% and a return on equity of 6.49%. Analysts expect that Calfrac Well Services Ltd. will post 0.3798828 earnings per share for the current year.
Insider Activity at Calfrac Well Services
In related news, insider Alif Husein Noorani sold 7,432 shares of Calfrac Well Services 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 sale, the insider owned 145 shares of the company’s stock, valued at approximately C$855.50. The trade was a 98.09% decrease in their position. Also, insider Mark Ryan Ellingson sold 20,000 shares of Calfrac Well Services stock in a transaction that occurred on Monday, March 30th. The stock was sold at an average price of C$6.64, for a total transaction of C$132,800.00. Following the completion of the sale, the insider directly owned 683 shares in the company, valued at C$4,535.12. This trade represents a 96.70% decrease in their position. Over the last quarter, insiders purchased 30,997 shares of company stock worth $186,495 and sold 41,132 shares worth $262,631. 46.88% of the stock is owned by company insiders.
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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