Calfrac Well Services (TSE:CFW) Issues Quarterly Earnings Results

Calfrac Well Services (TSE:CFW) issued its quarterly earnings results on Tuesday. The company reported C$0.16 EPS for the quarter, FiscalAI reports. The company had revenue of C$365.71 million for the quarter. Calfrac Well Services had a net margin of 4.49% and a return on equity of 8.75%.

Calfrac Well Services Price Performance

TSE:CFW opened at C$6.55 on Thursday. The firm’s fifty day moving average is C$7.00 and its two-hundred day moving average is C$6.29. The firm has a market cap of C$661.18 million, a price-to-earnings ratio of 10.74, a PEG ratio of -0.30 and a beta of -0.42. The company has a debt-to-equity ratio of 20.48, a quick ratio of 1.33 and a current ratio of 1.52. Calfrac Well Services has a one year low of C$3.02 and a one year high of C$8.07.

Insider Transactions at Calfrac Well Services

In other news, Director Charles Pellerin sold 200,000 shares of the firm’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of C$7.00, for a total transaction of C$1,400,000.00. Following the sale, the director directly owned 6,022,723 shares in the company, valued at C$42,159,061. This trade represents a 3.21% decrease in their position. Insiders sold 408,600 shares of company stock valued at $2,860,286 over the last three months. Insiders own 46.88% of the company’s stock.

Analyst Upgrades and Downgrades

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