Insider Selling: Calfrac Well Services (TSE:CFW) Director Sells 100,000 Shares

Calfrac Well Services Ltd. (TSE:CFW) Director Charles Pellerin sold 100,000 shares of the firm’s stock in a transaction on Monday, August 31st. The shares were sold at an average price of C$7.00, for a total value of C$700,000.00. Following the completion of the sale, the director owned 5,914,123 shares in the company, valued at C$41,398,861. The trade was a 1.66% decrease in their ownership of the stock.

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

• On Wednesday, September 2nd, Charles Pellerin sold 100,000 shares of Calfrac Well Services stock. The shares were sold at an average price of C$7.00, for a total value of C$700,000.00.
• On Monday, August 24th, Charles Pellerin sold 200,000 shares of Calfrac Well Services stock. The stock was sold at an average price of C$7.00, for a total value of C$1,400,000.00.
• On Wednesday, August 26th, Charles Pellerin sold 8,600 shares of Calfrac Well Services stock. The shares were sold at an average price of C$7.01, for a total value of C$60,286.00.

Calfrac Well Services Price Performance

Shares of TSE:CFW traded up C$0.04 during trading hours on Friday, hitting C$7.01. 52,820 shares of the company’s stock traded hands, compared to its average volume of 118,162. Calfrac Well Services Ltd. has a 52 week low of C$3.02 and a 52 week high of C$7.35. The company has a market cap of C$707.61 million, a price-to-earnings ratio of 11.49, a price-to-earnings-growth ratio of -0.30 and a beta of -0.26. The company’s fifty day simple moving average is C$6.57 and its two-hundred day simple moving average is C$6.16. The company has a debt-to-equity ratio of 20.48, a quick ratio of 1.33 and a current ratio of 1.52.

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

Wall Street Analyst Weigh In

CFW has been the subject of several recent analyst reports. ATB Cormark Capital Markets raised shares of Calfrac Well Services from a “hold” rating to a “moderate buy” rating and upped their price objective for the stock from C$7.50 to C$9.00 in a report on Tuesday, August 11th. Royal Bank Of Canada raised their price objective on Calfrac Well Services from C$7.50 to C$8.00 and gave the stock a “sector perform” rating in a research report on Wednesday, May 13th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Calfrac Well Services 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.