Calfrac Well Services (CFW) Shares Up 5%

Calfrac Well Services Ltd (TSE:CFW)’s share price shot up 5% during mid-day trading on Friday . The stock traded as high as C$6.95 and last traded at C$6.75. 542,775 shares were traded during trading, an increase of 11% from the average session volume of 490,141 shares. The stock had previously closed at C$6.43.

Several brokerages recently issued reports on CFW. TD Securities lifted their price objective on Calfrac Well Services from C$6.00 to C$7.00 and gave the stock a “buy” rating in a report on Friday, October 27th. BMO Capital Markets lifted their price objective on Calfrac Well Services from C$4.50 to C$6.00 and gave the stock a “market perform” rating in a report on Friday, October 27th. National Bank Financial lifted their price objective on Calfrac Well Services from C$6.50 to C$7.50 and gave the stock an “outperform” rating in a report on Friday, October 27th. CIBC lifted their price objective on Calfrac Well Services from C$4.50 to C$6.75 in a report on Friday, October 20th. Finally, Scotiabank reissued a “sector perform” rating and issued a C$7.75 price target on shares of Calfrac Well Services in a report on Thursday, December 7th. Three investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of C$6.61.

The stock has a market capitalization of $893.26, a price-to-earnings ratio of -9.12 and a beta of 1.60.

In other Calfrac Well Services news, insider Dan Wilks bought 566,000 shares of the company’s stock in a transaction that occurred on Thursday, November 16th. The stock was purchased at an average cost of C$5.78 per share, for a total transaction of C$3,271,480.00. Also, Director Douglas Robert Ramsay sold 1,000,000 shares of the company’s stock in a transaction on Thursday, November 23rd. The shares were sold at an average price of C$6.07, for a total value of C$6,070,000.00. Over the last three months, insiders bought 1,990,500 shares of company stock valued at $11,369,345 and sold 1,010,700 shares valued at $6,113,734.

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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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