Insider Selling: Calfrac Well Services (TSE:CFW) Director Sells C$1,400,000.00 in Stock

Calfrac Well Services Ltd. (TSE:CFW) Director Charles Pellerin sold 200,000 shares of the business’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of C$7.00, for a total transaction of C$1,400,000.00. Following the completion of the sale, the director owned 6,022,723 shares in the company, valued at C$42,159,061. This represents a 3.21% decrease in their position.

Charles Pellerin also recently made the following trade(s):

• On Wednesday, August 26th, Charles Pellerin sold 8,600 shares of Calfrac Well Services stock. The stock was sold at an average price of C$7.01, for a total transaction of C$60,286.00.
• On Friday, May 29th, Charles Pellerin bought 11,300 shares of Calfrac Well Services stock. The shares were purchased at an average price of C$6.20 per share, with a total value of C$70,060.00.

Calfrac Well Services Trading Down 0.3%

Shares of CFW stock opened at C$6.98 on Friday. Calfrac Well Services Ltd. has a 12-month low of C$3.02 and a 12-month high of C$7.35. The company has a market capitalization of C$704.58 million, a P/E ratio of 11.44, a P/E/G ratio of -0.30 and a beta of -0.45. The firm has a 50-day moving average price of C$6.52 and a 200 day moving average price of C$6.11. The company has a quick ratio of 1.33, a current ratio of 1.52 and a debt-to-equity ratio of 20.48.

Calfrac Well Services (TSE:CFW) last issued its quarterly earnings data on Thursday, August 6th. The company reported C$0.32 earnings per share for the quarter. Calfrac Well Services had a net margin of 4.49% and a return on equity of 8.75%. The firm had revenue of C$426.69 million for the quarter. Research analysts forecast that Calfrac Well Services Ltd. will post 0.3798828 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CFW. ATB Cormark Capital Markets raised Calfrac Well Services from a “hold” rating to a “moderate buy” rating and upped their price target for the company from C$7.50 to C$9.00 in a research note on Tuesday, August 11th. Royal Bank Of Canada upped their target price 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. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of C$8.50.

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.