Insider Buying: Calfrac Well Services (TSE:CFW) Director Purchases 11,300 Shares of Stock

Calfrac Well Services Ltd. (TSE:CFW) Director Charles Pellerin bought 11,300 shares of Calfrac Well Services stock in a transaction dated Friday, May 29th. The stock was purchased at an average cost of C$6.20 per share, for a total transaction of C$70,060.00. Following the purchase, the director owned 6,222,723 shares of the company’s stock, valued at approximately C$38,580,882.60. This trade represents a 0.18% increase in their position.

Calfrac Well Services Trading Up 2.4%

Shares of CFW traded up C$0.15 during midday trading on Friday, hitting C$6.33. The stock had a trading volume of 78,344 shares, compared to its average volume of 129,280. Calfrac Well Services Ltd. has a 1 year low of C$3.02 and a 1 year high of C$6.80. The firm has a market cap of C$635.65 million, a PE ratio of 13.76, a price-to-earnings-growth ratio of -0.30 and a beta of -0.21. 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 stock’s 50 day moving average is C$5.93 and its 200 day moving average is C$4.97.

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on CFW shares. Royal Bank Of Canada increased 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 note on Wednesday, May 13th. ATB Cormark Capital Markets increased their target price on shares of Calfrac Well Services from C$7.25 to C$7.50 and gave the company an “outperform” rating in a research note on Wednesday, May 13th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Calfrac Well Services currently has a consensus rating of “Moderate Buy” and a consensus price target 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.