Calfrac Well Services Ltd (CFW) Downgraded by Scotiabank to “Sector Perform”

Scotiabank downgraded shares of Calfrac Well Services Ltd (TSE:CFW) from an outperform rating to a sector perform rating in a research note released on Thursday. They currently have C$7.75 price target on the stock.

Other equities analysts have also recently issued research reports about the stock. Royal Bank Of Canada upped their price target on shares of Calfrac Well Services from C$5.00 to C$6.00 and gave the stock an outperform rating in a research note on Friday, August 25th. GMP Securities boosted their target price on Calfrac Well Services from C$3.00 to C$4.00 in a research report on Thursday, July 27th. TD Securities boosted their target price on Calfrac Well Services from C$7.00 to C$7.50 and gave the stock a buy rating in a research report on Wednesday. BMO Capital Markets boosted their target price on Calfrac Well Services from C$4.50 to C$6.00 and gave the stock a market perform rating in a research report on Friday, October 27th. Finally, CIBC decreased their target price on Calfrac Well Services from C$5.75 to C$4.00 in a research report on Thursday, July 20th. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued 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.

Shares of Calfrac Well Services (TSE:CFW) traded up C$0.16 during trading on Thursday, reaching C$5.96. 477,549 shares of the company were exchanged, compared to its average volume of 654,779. Calfrac Well Services has a 52 week low of C$2.23 and a 52 week high of C$6.10.

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In other Calfrac Well Services news, insider Dan Wilks purchased 2,094,577 shares of Calfrac Well Services stock in a transaction dated Wednesday, August 23rd. The stock was purchased 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 purchased 429,100 shares of Calfrac Well Services stock in a transaction dated Tuesday, August 29th. The shares were acquired at an average cost of C$3.45 per share, with a total value of C$1,480,395.00. In the last three months, insiders acquired 6,687,677 shares of company stock valued at $27,302,669.

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.

Analyst Recommendations for Calfrac Well Services (TSE:CFW)

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