Calfrac Well Services (TSE:CFW) Shares Cross Above Two Hundred Day Moving Average – Time to Sell?

Calfrac Well Services Ltd. (TSE:CFW) shares crossed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of C$6.39 and traded as high as C$6.74. Calfrac Well Services shares last traded at C$6.69, with a volume of 138,464 shares changing hands.

Analysts Set New Price Targets

Separately, ATB Cormark Capital Markets upgraded shares of Calfrac Well Services from a “hold” rating to a “moderate buy” rating and boosted their price objective for the stock from C$7.50 to C$9.00 in a research report on Tuesday, August 11th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of C$8.50.

Calfrac Well Services Stock Performance

The company has a quick ratio of 1.33, a current ratio of 1.52 and a debt-to-equity ratio of 20.48. The stock has a market cap of C$713.67 million, a price-to-earnings ratio of 11.59, a PEG ratio of -0.30 and a beta of -0.32. The stock’s fifty day moving average is C$6.85 and its 200-day moving average is C$6.40.

Calfrac Well Services (TSE:CFW) last announced its quarterly earnings results 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 company had revenue of C$426.69 million for the quarter. On average, analysts forecast that Calfrac Well Services Ltd. will post 0.38 EPS for the current year.

Insiders Place Their Bets

In other Calfrac Well Services news, Director Charles Pellerin sold 200,000 shares of the stock in a transaction dated Monday, August 24th. The stock was sold at an average price of C$7.00, for a total value of C$1,400,000.00. Following the completion of the sale, the director directly owned 6,022,723 shares in the company, valued at C$42,159,061. This represents a 3.21% decrease in their ownership of the stock. Also, insider Jeffrey Irwin Ellis sold 13,000 shares of the firm’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of C$6.75, for a total value of C$87,750.00. Following the sale, the insider directly owned 15,489 shares in the company, valued at approximately C$104,550.75. This represents a 45.63% decrease in their position. Over the last ninety days, insiders have sold 705,600 shares of company stock worth $5,021,236. Corporate insiders own 46.88% of the company’s stock.

Calfrac Well Services Company Profile

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.