Royal Bank of Canada Has Lowered Expectations for Calfrac Well Services (TSE:CFW) Stock Price

Calfrac Well Services (TSE:CFW - Get Free Report) had its price objective reduced by analysts at Royal Bank of Canada from C$5.00 to C$4.50 in a report released on Friday,BayStreet.CA reports. The firm presently has a "sector perform" rating on the stock. Royal Bank of Canada's price objective points to a potential upside of 21.62% from the company's current price.

Several other equities analysts have also recently issued reports on CFW. 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. ATB Capital raised shares of Calfrac Well Services from a "sector perform" rating to an "outperform" rating and lifted their price objective for the stock from C$4.50 to C$5.50 in a research note on Tuesday, December 10th.

Calfrac Well Services Price Performance

Calfrac Well Services stock traded up C$0.06 during trading hours on Friday, hitting C$3.70. 205,736 shares of the company traded hands, compared to its average volume of 67,394. The firm has a market cap of C$316.98 million, a P/E ratio of 11.30, a P/E/G ratio of -0.30 and a beta of 1.65. The company has a quick ratio of 1.33, a current ratio of 2.23 and a debt-to-equity ratio of 57.80. The firm's 50-day simple moving average is C$3.82 and its two-hundred day simple moving average is C$3.85. Calfrac Well Services has a 1-year low of C$3.45 and a 1-year high of C$4.85.

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Insider Transactions at Calfrac Well Services

In other news, Director Charles Pellerin bought 146,800 shares of the company's stock in a transaction dated Friday, February 14th. The shares were acquired at an average cost of C$3.85 per share, with a total value of C$565,180.00. Insiders have acquired 1,193,600 shares of company stock valued at $4,496,821 in the last quarter. Insiders own 46.88% of the company's stock.

Calfrac Well Services Company Profile

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.