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

Calfrac Well Services (TSE:CFW) had its price objective lowered by research analysts at Royal Bank of Canada from C$4.50 to C$3.75 in a note issued to investors on Thursday,BayStreet.CA reports. The firm presently has a “sector perform” rating on the stock. Royal Bank of Canada’s price objective would indicate a potential upside of 8.07% from the company’s previous close.

Calfrac Well Services Stock Performance

Shares of TSE:CFW opened at C$3.47 on Thursday. The company has a current ratio of 2.23, a quick ratio of 1.33 and a debt-to-equity ratio of 57.80. The company has a market cap of C$297.28 million, a price-to-earnings ratio of 10.60, a price-to-earnings-growth ratio of -0.30 and a beta of 1.65. Calfrac Well Services has a 12 month low of C$2.98 and a 12 month high of C$4.85. The company has a 50-day moving average price of C$3.66 and a 200-day moving average price of C$3.79.

Insider Activity at Calfrac Well Services

In related news, Director Charles Pellerin purchased 72,700 shares of the firm’s stock in a transaction that occurred on Friday, April 11th. The stock was bought at an average cost of C$3.10 per share, with a total value of C$225,370.00. Also, Director Anuroop Duggal acquired 15,000 shares of the business’s stock in a transaction on Monday, April 7th. The shares were purchased at an average cost of C$3.43 per share, for a total transaction of C$51,450.00. Insiders acquired a total of 1,547,600 shares of company stock worth $5,701,432 over the last quarter. 46.88% of the stock is owned by corporate 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.