Sime Armoyan Sells 284,000 Shares of Calfrac Well Services (TSE:CFW) Stock

Calfrac Well Services Ltd. (TSE:CFW) insider Sime Armoyan sold 284,000 shares of Calfrac Well Services stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of C$7.30, for a total value of C$2,073,200.00. Following the transaction, the insider directly owned 14,800,000 shares of the company’s stock, valued at C$108,040,000. The trade was a 1.88% decrease in their position.

Sime Armoyan also recently made the following trade(s):

• On Wednesday, June 10th, Sime Armoyan sold 15,429,212 shares of Calfrac Well Services stock. The stock was sold at an average price of C$6.50, for a total transaction of C$100,289,878.00.
• On Wednesday, June 10th, Sime Armoyan sold 650,000 shares of Calfrac Well Services stock. The shares were sold at an average price of C$6.50, for a total transaction of C$4,225,000.00.
• On Thursday, June 11th, Sime Armoyan sold 4,350,000 shares of Calfrac Well Services stock. The shares were sold at an average price of C$6.75, for a total transaction of C$29,362,500.00.

Calfrac Well Services Price Performance

Calfrac Well Services stock traded up C$0.01 during midday trading on Friday, reaching C$6.96. 18,336 shares of the stock were exchanged, compared to its average volume of 120,563. The company’s fifty day moving average is C$6.40 and its 200-day moving average is C$5.97. The company has a debt-to-equity ratio of 20.48, a quick ratio of 1.33 and a current ratio of 1.52. The firm has a market cap of C$699.29 million, a PE ratio of 11.41, a PEG ratio of -0.30 and a beta of -0.45. Calfrac Well Services Ltd. has a 52 week low of C$3.02 and a 52 week high of C$7.35.

Calfrac Well Services (TSE:CFW) last announced its quarterly earnings results on Thursday, August 6th. The company reported C$0.32 EPS for the quarter. The firm had revenue of C$426.69 million during the quarter. Calfrac Well Services had a net margin of 4.49% and a return on equity of 8.75%. On average, sell-side analysts forecast that Calfrac Well Services Ltd. will post 0.3798828 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CFW. ATB Cormark Capital Markets upgraded Calfrac Well Services from a “hold” rating to a “moderate buy” rating and upped their target price for the stock from C$7.50 to C$9.00 in a research note on Tuesday. Royal Bank Of Canada upped their price objective on shares of 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 investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company 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.