Calfrac Well Services (TSE:CFW) Insider Sime Armoyan 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 dated Thursday, June 11th. The stock was sold at an average price of C$6.75, for a total value of C$29,362,500.00. Following the completion of the sale, the insider directly owned 15,084,000 shares of the company’s stock, valued at approximately C$101,817,000. This represents 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 Down 1.6%

CFW opened at C$6.68 on Friday. Calfrac Well Services Ltd. has a fifty-two week low of C$3.02 and a fifty-two week high of C$7.20. The business has a 50-day moving average of C$5.98 and a 200-day moving average of C$5.21. The company has a debt-to-equity ratio of 25.17, a current ratio of 1.48 and a quick ratio of 1.33. The company has a market capitalization of C$671.15 million, a PE ratio of 14.52, a price-to-earnings-growth ratio of -0.30 and a beta of -0.44.

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

Analyst Upgrades and Downgrades

CFW has been the subject of a number of recent research reports. ATB Cormark Capital Markets raised their price target on Calfrac Well Services from C$7.25 to C$7.50 and gave the stock an “outperform” rating in a research note on Wednesday, May 13th. Royal Bank Of Canada raised their price target 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. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of C$7.75.

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.