Calfrac Well Services Receives a Hold from RBC Capital

By Austin Angelo

Calfrac Well Services (TSX: CFW), the Materials sector company was revisited on July 26, yet the Wall Street analyst remains currently on the sidelines. The company received a Hold on July 26 from RBC Capital’s analyst Benjamin Owens, with a C$5 price target.

According to TipRanks.com, Owens is ranked #3647 out of 4160 analysts.

Currently, the analyst consensus on Calfrac Well Services is Hold and the average price target is C$4.71, representing a 35.3% upside.

In a report issued on July 11, Canaccord Genuity also reiterated a Hold rating on the stock with a C$3 price target.

Based on Calfrac Well Services’ latest earnings report for the quarter ending June 30, the company posted quarterly revenue of C$325 million and GAAP net loss of C$20.35 million. In comparison, last year the company earned revenue of C$151 million and had a GAAP net loss of C$41.67 million.

Calfrac Well Services Ltd. engages in the provision of specialized oilfield services. It provides hydraulic fracturing, coiled tubing, cementing, and other well completion services to the oil and natural gas industries. It operates through the following geographical segments: Canada, the United States of America, Russia, and Latin America.

The company’s shares closed on Friday at C$3.48.