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Calfrac Well Services ( (TSE:CFW) ) has provided an update.
Calfrac Well Services has closed an oversubscribed rights offering to existing shareholders, issuing 13.0 million new common shares at $2.69 each for gross proceeds of about $35 million, bringing its total shares outstanding to roughly 98.9 million. The transaction, which saw 96.7% of rights exercised and insiders taking up about 63% of the offering, forms part of a broader refinancing that includes draws on the company’s credit facilities to fully redeem US$120 million of high‑coupon second lien notes, extending Calfrac’s nearest long‑term debt maturity to mid‑2028 and supporting its deleveraging strategy, with year‑end long‑term debt expected at the low end of its guidance range and more than $100 million lower than a year earlier.
The most recent analyst rating on (TSE:CFW) stock is a Hold with a C$3.50 price target. To see the full list of analyst forecasts on Calfrac Well Services stock, see the TSE:CFW Stock Forecast page.
Spark’s Take on TSE:CFW Stock
According to Spark, TipRanks’ AI Analyst, TSE:CFW is a Neutral.
Calfrac Well Services’ overall stock score is driven by its strong cash flow generation and stable financial structure, despite challenges in revenue growth and shareholder returns. The technical analysis suggests a neutral market sentiment, while the valuation is reasonable but not particularly attractive. The absence of earnings call data and notable corporate events limits further insights.
To see Spark’s full report on TSE:CFW stock, click here.
More about Calfrac Well Services
Calfrac Well Services Ltd., listed on the TSX, operates in the oilfield services industry, providing pressure pumping and related well stimulation services to oil and gas producers, with a focus on improving reservoir productivity in key North American and international energy markets.
Average Trading Volume: 47,243
Technical Sentiment Signal: Sell
Current Market Cap: C$345.2M
Find detailed analytics on CFW stock on TipRanks’ Stock Analysis page.