Calfrac Well Services (TSE:CFW) Stock Price Breaks Above Fifty Day Moving Average – Time to Sell?

Calfrac Well Services Ltd. (TSE:CFW) shares passed above its 50-day moving average during trading on Friday. The stock has a 50-day moving average of C$7.00 and traded as high as C$7.02. Calfrac Well Services shares last traded at C$7.02, with a volume of 113,371 shares.

Analyst Ratings Changes

Separately, ATB Cormark Capital Markets raised Calfrac Well Services from a “hold” rating to a “moderate buy” rating and boosted their price target for the stock from C$7.50 to C$9.00 in a report on Tuesday, August 11th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$8.50.

Calfrac Well Services Stock Performance

The company has a quick ratio of 1.33, a current ratio of 1.52 and a debt-to-equity ratio of 20.48. The firm has a market capitalization of C$708.62 million, a P/E ratio of 11.51, a price-to-earnings-growth ratio of -0.30 and a beta of -0.42. The company’s 50 day moving average is C$7.00 and its 200-day moving average is C$6.26.

Calfrac Well Services (TSE:CFW) last issued its quarterly earnings data on Thursday, August 6th. The company reported C$0.32 earnings per share for the quarter. Calfrac Well Services had a net margin of 4.49% and a return on equity of 8.75%. The company had revenue of C$426.69 million for the quarter. As a group, equities analysts anticipate that Calfrac Well Services Ltd. will post 0.38 EPS for the current year.

Insider Activity at Calfrac Well Services

In other news, insider Sime Armoyan sold 284,000 shares of the company’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of C$7.30, for a total value of C$2,073,200.00. Following the sale, the insider directly owned 14,800,000 shares in the company, valued at C$108,040,000. This represents a 1.88% decrease in their ownership of the stock. Also, Director Charles Pellerin sold 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of C$7.00, for a total value of C$700,000.00. Following the completion of the sale, the director directly owned 5,814,123 shares in the company, valued at approximately C$40,698,861. This trade represents a 1.69% decrease in their position. Insiders sold a total of 705,600 shares of company stock worth $5,021,236 over the last 90 days. Company insiders own 46.88% of the company’s stock.

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.