Calfrac Well Services (TSE:CFW) Lowered to “Sector Perform” Rating by ATB Cormark Capital Markets

Calfrac Well Services (TSE:CFW) was downgraded by equities research analysts at ATB Cormark Capital Markets from an “outperform” rating to a “sector perform” rating in a report issued on Friday,BayStreet.CA reports. They presently have a C$7.50 price target on the stock. ATB Cormark Capital Markets’ price target would indicate a potential upside of 21.56% from the company’s current price.

Separately, Royal Bank Of Canada boosted their price target on shares of Calfrac Well Services from C$7.50 to C$8.00 and gave the company a “sector perform” rating in a report on Wednesday, May 13th. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Calfrac Well Services currently has a consensus rating of “Hold” and an average price target of C$7.75.

Calfrac Well Services Trading Up 3.5%

CFW traded up C$0.21 during trading on Friday, reaching C$6.17. The company had a trading volume of 55,912 shares, compared to its average volume of 128,904. The company has a quick ratio of 1.33, a current ratio of 1.48 and a debt-to-equity ratio of 25.17. The business has a 50 day simple moving average of C$6.16 and a 200-day simple moving average of C$5.62. The stock has a market cap of C$619.91 million, a P/E ratio of 13.41, a PEG ratio of -0.30 and a beta of -0.37. Calfrac Well Services has a 52 week low of C$3.02 and a 52 week high of C$7.20.

Calfrac Well Services (TSE:CFW) last issued 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 firm had revenue of C$305.37 million for the quarter. On average, equities analysts anticipate that Calfrac Well Services will post 0.3798828 EPS for the current fiscal year.

Insider Buying and Selling at Calfrac Well Services

In related news, insider Tyler Dahlseide purchased 9,250 shares of the company’s stock in a transaction dated Wednesday, May 13th. The stock was acquired at an average cost of C$5.83 per share, for a total transaction of C$53,927.50. Following the completion of the transaction, the insider directly owned 79,774 shares of the company’s stock, valued at approximately C$465,082.42. This trade represents a 13.12% increase in their ownership of the stock. Also, Director Charles Pellerin bought 11,300 shares of the business’s stock in a transaction on Friday, May 29th. The stock was bought at an average cost of C$6.20 per share, with a total value of C$70,060.00. Following the completion of the purchase, the director directly owned 6,222,723 shares in the company, valued at approximately C$38,580,882.60. The trade was a 0.18% increase in their ownership of the stock. Over the last ninety days, insiders have bought 30,997 shares of company stock valued at $186,495 and have sold 20,456,098 shares valued at $134,044,544. Company 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.