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

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

Calfrac Well Services Stock Up 2.4%

Shares of TSE 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. The business’s 50 day moving average is C$5.93 and its 200-day moving average is C$4.97. The company has a market cap of C$635.65 million, a P/E ratio of 13.76, a PEG ratio of -0.30 and a beta of -0.21. Calfrac Well Services Ltd. has a 52 week low of C$3.02 and a 52 week high of C$6.80. The company has a quick ratio of 1.33, a current ratio of 1.48 and a debt-to-equity ratio of 25.17.

Calfrac Well Services (TSE:CFW) last released its quarterly earnings data 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 firm had revenue of C$305.37 million during the quarter. As a group, analysts predict that Calfrac Well Services Ltd. will post 0.3798828 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have commented on the stock. ATB Cormark Capital Markets upped their price target on shares of Calfrac Well Services from C$7.25 to C$7.50 and gave the stock an “outperform” rating in a research report on Wednesday, May 13th. Royal Bank Of Canada upped their price target 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 analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Calfrac Well Services presently has an average 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.