Royal Bank of Canada Cuts Calfrac Well Services (TSE:CFW) Price Target to C$4.50

Calfrac Well Services (TSE:CFW) had its target price cut by Royal Bank of Canada from C$5.00 to C$4.50 in a research note published on Friday morning,BayStreet.CA reports. They currently have a sector perform rating on the stock.

A number of other research analysts also recently issued reports on the stock. Atb Cap Markets raised shares of Calfrac Well Services from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 10th. ATB Capital raised shares of Calfrac Well Services from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from C$4.50 to C$5.50 in a research note on Tuesday, December 10th.

Calfrac Well Services Price Performance

Shares of CFW stock opened at C$3.69 on Friday. The company has a debt-to-equity ratio of 57.80, a quick ratio of 1.33 and a current ratio of 2.23. Calfrac Well Services has a fifty-two week low of C$3.45 and a fifty-two week high of C$4.85. The firm has a market cap of C$316.13 million, a P/E ratio of 11.27, a P/E/G ratio of -0.30 and a beta of 1.65. The business’s 50 day moving average price is C$3.83 and its 200-day moving average price is C$3.86.

Insider Buying and Selling

In related news, Director Charles Pellerin purchased 142,700 shares of the business’s stock in a transaction that occurred on Thursday, February 6th. The shares were bought at an average price of C$3.85 per share, for a total transaction of C$549,395.00. Insiders acquired a total of 663,200 shares of company stock worth $2,587,381 in the last three months. 46.88% of the stock is owned by corporate insiders.

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.