Calfrac Well Services Ltd (TSE:CFW) shares traded up 3.7% during mid-day trading on Thursday . The stock traded as high as C$5.05 and last traded at C$4.78. 1,084,559 shares traded hands during trading, an increase of 83% from the average session volume of 591,125 shares. The stock had previously closed at C$4.61.
Several research analysts recently issued reports on the company. Royal Bank Of Canada lifted their target price on Calfrac Well Services from C$5.00 to C$6.00 and gave the company an “outperform” rating in a research report on Friday, August 25th. Canaccord Genuity raised Calfrac Well Services from a “hold” rating to a “speculative buy” rating and lifted their target price for the company from C$5.50 to C$7.00 in a research report on Friday. BMO Capital Markets lifted their target price on Calfrac Well Services from C$4.50 to C$6.00 and gave the company a “market perform” rating in a research report on Friday. TD Securities lifted their target price on Calfrac Well Services from C$6.00 to C$7.00 and gave the company a “buy” rating in a research report on Friday. Finally, National Bank Financial lifted their target price on Calfrac Well Services from C$6.50 to C$7.50 and gave the company an “outperform” rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Calfrac Well Services currently has a consensus rating of “Buy” and an average price target of C$5.94.
The firm has a 50-day moving average of $4.63 and a 200-day moving average of $3.60. The firm’s market cap is $678.39 million.
In other Calfrac Well Services news, insider Dan Wilks bought 2,094,577 shares of Calfrac Well Services stock in a transaction on Wednesday, August 23rd. The stock was acquired at an average price of C$3.42 per share, with a total value of C$7,163,453.34. Also, insider Wilks Brothers, Llc bought 2,453,000 shares of Calfrac Well Services stock in a transaction on Wednesday, September 13th. The stock was acquired at an average cost of C$4.25 per share, with a total value of C$10,425,250.00. In the last three months, insiders acquired 6,441,977 shares of company stock valued at $24,284,660.
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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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