Calfrac Well Services Ltd (TSE:CFW) fell 0% on Friday . The stock traded as low as C$5.13 and last traded at C$5.25. 386,571 shares were traded during mid-day trading, a decline of 40% from the average session volume of 646,680 shares. The stock had previously closed at C$5.25.
Several research firms have weighed in on CFW. TD Securities increased their price objective on Calfrac Well Services from C$7.00 to C$7.50 and gave the stock a “buy” rating in a report on Wednesday, November 15th. Scotiabank cut Calfrac Well Services from an “outperform” rating to a “sector perform” rating and set a C$7.75 target price for the company. in a research note on Thursday, November 16th. Royal Bank of Canada raised their target price on Calfrac Well Services from C$6.00 to C$7.00 and gave the company an “outperform” rating in a research note on Thursday, October 12th. Raymond James Financial raised their target price on Calfrac Well Services from C$5.85 to C$6.00 and gave the company a “strong-buy” rating in a research note on Monday, September 25th. Finally, National Bank Financial raised 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 note on Friday, October 27th. Three equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of C$6.42.
In related news, Director Ronald Mathison acquired 1,000,000 shares of the stock in a transaction on Tuesday, November 14th. The stock was acquired at an average price of C$5.56 per share, for a total transaction of C$5,560,000.00. Also, insider Dan Wilks acquired 423,000 shares of the stock in a transaction on Wednesday, November 22nd. The shares were bought at an average price of C$5.98 per share, with a total value of C$2,529,540.00. In the last quarter, insiders have acquired 1,992,000 shares of company stock valued at $11,372,330 and have sold 1,010,700 shares valued at $6,113,734.
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About Calfrac Well Services
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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