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Calfrac Well Services (TSE:CFW) Stock Price Crosses Below 200 Day Moving Average - Here's Why

Calfrac Well Services logo with Energy background

Shares of Calfrac Well Services Ltd. (TSE:CFW - Get Free Report) passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$3.98 and traded as low as C$3.78. Calfrac Well Services shares last traded at C$3.80, with a volume of 54,996 shares.

Analysts Set New Price Targets

Several equities analysts have commented on the company. ATB Capital raised Calfrac Well Services from a "sector perform" rating to an "outperform" rating and upped their price target for the company from C$4.50 to C$5.50 in a report on Tuesday, December 10th. Atb Cap Markets upgraded Calfrac Well Services from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, December 10th. Three analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of C$5.00.

Check Out Our Latest Research Report on CFW

Calfrac Well Services Price Performance

The company has a 50-day moving average of C$3.87 and a 200 day moving average of C$3.97. The company has a debt-to-equity ratio of 58.76, a quick ratio of 1.33 and a current ratio of 2.31. The firm has a market cap of C$323.47 million, a P/E ratio of 1.68, a P/E/G ratio of -0.30 and a beta of 1.65.

Calfrac Well Services (TSE:CFW - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The company reported C($0.08) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of C$0.19 by C($0.27). Calfrac Well Services had a net margin of 7.23% and a return on equity of 22.89%. The company had revenue of C$430.11 million for the quarter, compared to the consensus estimate of C$400.60 million. On average, sell-side analysts anticipate that Calfrac Well Services Ltd. will post 0.3798828 EPS for the current year.

Insider Transactions at Calfrac Well Services

In related news, Director Charles Pellerin purchased 41,411 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was acquired at an average price of C$3.65 per share, with a total value of C$151,150.15. Company insiders own 46.88% of the company's stock.

About Calfrac Well Services

(Get Free Report)

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.

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