Calfrac Well Services Ltd (TSE:CFW)’s share price dropped 3.5% during trading on Wednesday . The company traded as low as C$4.62 and last traded at C$4.63. Approximately 163,704 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 686,505 shares. The stock had previously closed at C$4.80.
CFW has been the subject of a number of recent research reports. Raymond James Financial, Inc. lifted their target price on Calfrac Well Services from C$5.85 to C$6.00 and gave the stock a “strong-buy” rating in a report on Monday, September 25th. Canaccord Genuity dropped their target price on Calfrac Well Services from C$4.00 to C$3.00 in a report on Tuesday, July 11th. National Bank Financial lifted their target price on Calfrac Well Services from C$4.25 to C$5.75 and gave the stock an “outperform” rating in a report on Wednesday, July 26th. Royal Bank Of Canada lifted their target price on Calfrac Well Services from C$6.00 to C$7.00 and gave the stock an “outperform” rating in a report on Thursday, October 12th. Finally, CIBC dropped their target price on Calfrac Well Services from C$5.75 to C$4.00 in a report on Thursday, July 20th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of C$5.02.
The stock’s 50-day moving average price is $4.56 and its 200-day moving average price is $3.58. The firm’s market capitalization is $635.99 million.
In other Calfrac Well Services news, insider Dan Wilks acquired 2,094,577 shares of the stock in a transaction that occurred on Wednesday, August 23rd. The stock was bought at an average cost of C$3.42 per share, for a total transaction of C$7,163,453.34. Also, insider Wilks Brothers, Llc acquired 754,300 shares of the stock in a transaction that occurred on Friday, August 4th. The stock was acquired at an average price of C$3.37 per share, with a total value of C$2,541,991.00. In the last ninety days, insiders purchased 6,441,977 shares of company stock valued at $24,284,660.
Calfrac Well Services Company Profile
Calfrac Well Services Ltd. is a provider of specialized oilfield services. The Company operates through four geographical segments: Canada, the United States, Russia and Latin America. Its services include hydraulic fracturing, coiled tubing, cementing and other well stimulation services. The Canadian segment provides fracturing and coiled tubing services to oil and natural gas exploration and production companies in Alberta, northeast British Columbia, Saskatchewan and southwest Manitoba.
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