Shares of Calfrac Well Services Ltd. (TSE:CFW – Get Rating) fell 6.9% on Friday after Royal Bank of Canada lowered their price target on the stock from C$8.50 to C$8.00. Royal Bank of Canada currently has a sector perform rating on the stock. Calfrac Well Services traded as low as C$3.98 and last traded at C$4.05. 160,603 shares traded hands during trading, an increase of 60% from the average session volume of 100,566 shares. The stock had previously closed at C$4.35.
A number of other research analysts have also issued reports on CFW. ATB Capital cut their price target on shares of Calfrac Well Services from C$14.50 to C$12.00 in a research note on Friday. Stifel Nicolaus cut their target price on Calfrac Well Services from C$14.00 to C$8.50 in a research report on Friday. Finally, BMO Capital Markets lowered their price target on Calfrac Well Services from C$8.50 to C$5.00 in a research report on Friday. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of C$8.70.
Insider Buying and Selling at Calfrac Well Services
In related news, Director Charles Pellerin acquired 8,500 shares of Calfrac Well Services stock in a transaction on Wednesday, December 28th. The stock was acquired at an average price of C$5.94 per share, for a total transaction of C$50,515.50. Following the purchase, the director now owns 558,500 shares of the company’s stock, valued at approximately C$3,319,165.50. 24.97% of the stock is owned by corporate insiders.
Calfrac Well Services Stock Down 8.5 %
About Calfrac Well Services
Calfrac Well Services Ltd., together with its subsidiaries, provides specialized oilfield services in Canada, the United States, and Argentina. It offers hydraulic fracturing, coiled tubing, cementing, and other well stimulation services, as well as pressure pumping services to oil and natural gas industries.
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