Insider Buying: Calfrac Well Services Ltd (CFW) Director Buys C$5,560,000.00 in Stock
Calfrac Well Services Ltd (TSE:CFW) Director Ronald Mathison bought 1,000,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 14th. The shares were acquired at an average cost of C$5.56 per share, for a total transaction of C$5,560,000.00.
Calfrac Well Services Ltd (TSE:CFW) opened at C$5.96 on Friday. Calfrac Well Services Ltd has a 1-year low of C$2.23 and a 1-year high of C$6.10.
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Several brokerages recently issued reports on CFW. TD Securities lifted their target price on Calfrac Well Services from C$7.00 to C$7.50 and gave the company a “buy” rating in a research note on Wednesday. Scotiabank cut Calfrac Well Services from an “outperform” rating to a “sector perform” rating and set a C$7.75 price target for the company. in a report on Thursday. Royal Bank Of Canada raised their price target on Calfrac Well Services from C$6.00 to C$7.00 and gave the company an “outperform” rating in a report on Thursday, October 12th. Raymond James Financial, Inc. raised their price target on Calfrac Well Services from C$5.85 to C$6.00 and gave the company a “strong-buy” rating in a report on Monday, September 25th. Finally, BMO Capital Markets raised their price target on Calfrac Well Services from C$4.50 to C$6.00 and gave the company a “market perform” rating in a report on Friday, October 27th. Three analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Calfrac Well Services currently has a consensus rating of “Buy” and a consensus price target of C$6.42.
About Calfrac Well Services
Calfrac Well Services Ltd. is a provider of specialized oilfield services. The Company operates through four geographical segments: Canada, the United States, Russia and Latin America. Its services include hydraulic fracturing, coiled tubing, cementing and other well stimulation services. The Canadian segment provides fracturing and coiled tubing services to oil and natural gas exploration and production companies in Alberta, northeast British Columbia, Saskatchewan and southwest Manitoba.
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