Calfrac Well Services Ltd (CFW) Lifted to Speculative Buy at Canaccord Genuity

Canaccord Genuity upgraded shares of Calfrac Well Services Ltd (TSE:CFW) from a hold rating to a speculative buy rating in a report issued on Friday morning. The brokerage currently has C$7.00 price target on the stock, up from their previous price target of C$5.50.

CFW has been the topic of several other research reports. Raymond James Financial, Inc. lifted their price objective on shares of Calfrac Well Services from C$5.85 to C$6.00 and gave the stock a strong-buy rating in a research note on Monday, September 25th. National Bank Financial lifted their price objective on shares of Calfrac Well Services from C$4.25 to C$5.75 and gave the stock an outperform rating in a research note on Wednesday, July 26th. Royal Bank Of Canada lifted their price objective on shares of Calfrac Well Services from C$6.00 to C$7.00 and gave the stock an outperform rating in a research note on Thursday, October 12th. CIBC lifted their price objective on shares of Calfrac Well Services from C$4.50 to C$6.75 in a research note on Friday, October 20th. Finally, BMO Capital Markets lowered their price objective on shares of Calfrac Well Services from C$5.50 to C$4.50 and set a market perform rating on the stock in a research note on Thursday, July 27th. Three research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of Buy and an average price target of C$6.23.

Shares of Calfrac Well Services (CFW) opened at 5.18 on Friday. The stock’s market cap is $708.48 million. Calfrac Well Services has a one year low of $2.23 and a one year high of $5.34. The firm has a 50 day moving average of $4.73 and a 200 day moving average of $3.62.

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In other news, insider Dan Wilks bought 2,094,577 shares of the firm’s stock in a transaction on Wednesday, August 23rd. The stock was bought at an average cost of C$3.42 per share, for a total transaction of C$7,163,453.34. Also, insider Wilks Brothers, Llc bought 754,300 shares of the firm’s stock in a transaction on Friday, August 4th. The stock was purchased at an average price of C$3.37 per share, with a total value of C$2,541,991.00. Over the last quarter, insiders acquired 6,441,977 shares of company stock valued at $24,284,660.

Calfrac Well Services Company Profile

Calfrac Well Services Ltd. is a provider of specialized oilfield services. The Company operates through four geographical segments: Canada, the United States, Russia and Latin America. Its services include hydraulic fracturing, coiled tubing, cementing and other well stimulation services. The Canadian segment provides fracturing and coiled tubing services to oil and natural gas exploration and production companies in Alberta, northeast British Columbia, Saskatchewan and southwest Manitoba.

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