Calfrac Well Services (TSE:CFW – Get Free Report) released its earnings results on Thursday. The company reported C$0.32 earnings per share for the quarter, FiscalAI reports. The business had revenue of C$426.69 million during the quarter. Calfrac Well Services had a net margin of 3.29% and a return on equity of 6.49%.
Calfrac Well Services Stock Up 5.4%
Shares of TSE:CFW opened at C$6.67 on Friday. The company has a fifty day moving average of C$6.37 and a 200-day moving average of C$5.91. Calfrac Well Services has a 52-week low of C$3.02 and a 52-week high of C$7.20. 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 company has a market capitalization of C$670.15 million, a PE ratio of 14.50, a price-to-earnings-growth ratio of -0.30 and a beta of -0.45.
Analysts Set New Price Targets
Several research analysts have recently commented on the company. Royal Bank Of Canada lifted their target price on 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. ATB Cormark Capital Markets downgraded Calfrac Well Services from a “moderate buy” rating to a “hold” rating and set a C$7.50 price target for the company. in a report on Friday, July 10th. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat, Calfrac Well Services has an average rating of “Hold” and a consensus price target of C$7.75.
Insider Activity
In other Calfrac Well Services news, insider Jeffrey Irwin Ellis sold 7,000 shares of the company’s stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of C$6.50, for a total value of C$45,500.00. Following the completion of the sale, the insider owned 12,043 shares of the company’s stock, valued at C$78,279.50. This represents a 36.76% decrease in their ownership of the stock. Also, Director Charles Pellerin purchased 11,300 shares of Calfrac Well Services stock in a transaction on Friday, May 29th. The shares were acquired at an average price of C$6.20 per share, for a total transaction of C$70,060.00. Following the completion of the transaction, the director directly owned 6,222,723 shares of the company’s stock, valued at approximately C$38,580,882.60. The trade was a 0.18% increase in their ownership of the stock. In the last three months, insiders purchased 30,997 shares of company stock worth $186,495 and sold 20,456,098 shares worth $134,044,544. Company insiders own 46.88% of the company’s stock.
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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