Calfrac Well Services Ltd (CFW) Stock Price Up 6.3%

Shares of Calfrac Well Services Ltd (TSE:CFW) rose 6.3% during mid-day trading on Thursday . The stock traded as high as C$6.09 and last traded at C$6.37. Approximately 607,986 shares traded hands during mid-day trading, a decline of 8% from the average daily volume of 658,896 shares. The stock had previously closed at C$5.99.

CFW has been the topic of several recent research reports. Raymond James Financial, Inc. raised their price target on Calfrac Well Services from C$5.85 to C$6.00 and gave the stock a “strong-buy” rating in a report on Monday, September 25th. National Bank Financial lifted their target price on Calfrac Well Services from C$4.25 to C$5.75 and gave the company an “outperform” rating in a research note on Wednesday, July 26th. Royal Bank Of Canada lifted 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. 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 note on Friday, October 27th. Finally, CIBC lifted their target price on Calfrac Well Services from C$4.50 to C$6.75 in a research note on Friday, October 20th. Three investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. Calfrac Well Services has an average rating of “Buy” and an average target price of C$6.42.

In other news, Director Ronald Mathison purchased 1,000,000 shares of the stock in a transaction dated Tuesday, November 14th. The shares were bought at an average cost of C$5.56 per share, for a total transaction of C$5,560,000.00. Also, insider Wilks Brothers, Llc purchased 150,300 shares of the stock in a transaction dated Wednesday, August 30th. The shares were purchased at an average price of C$3.50 per share, for a total transaction of C$526,050.00. Insiders have acquired a total of 5,159,100 shares of company stock worth $23,410,696 in the last ninety days.

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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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