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

Calfrac Well Services (TSE:CFW) had its price target decreased by investment analysts at Royal Bank of Canada from C$5.00 to C$4.50 in a research note issued to investors on Friday,BayStreet.CA reports. The brokerage presently has a “sector perform” rating on the stock. Royal Bank of Canada’s target price suggests a potential upside of 21.29% from the company’s current price.

Several other equities analysts have also recently commented on the stock. 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 report on Tuesday, December 10th. Atb Cap Markets raised shares of Calfrac Well Services from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 10th. Three research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of C$4.83.

Calfrac Well Services Stock Up 5.7 %

TSE:CFW traded up C$0.20 on Friday, reaching C$3.71. The stock had a trading volume of 569,200 shares, compared to its average volume of 64,586. The company has a current ratio of 2.23, a quick ratio of 1.33 and a debt-to-equity ratio of 57.80. Calfrac Well Services has a 12-month low of C$3.45 and a 12-month high of C$4.85. The company has a 50-day moving average of C$3.83 and a 200 day moving average of C$3.86. The stock has a market cap of C$317.84 million, a P/E ratio of 11.33, a price-to-earnings-growth ratio of -0.30 and a beta of 1.65.

Insider Buying and Selling at Calfrac Well Services

In related news, Director Charles Pellerin acquired 336,800 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were bought at an average price of C$3.95 per share, for a total transaction of C$1,330,360.00. Insiders have acquired 663,200 shares of company stock valued at $2,587,381 in the last 90 days. 46.88% of the stock is currently owned by 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.