Weatherford International (NASDAQ:WFRD) Issues Earnings Results

Weatherford International (NASDAQ:WFRD) issued its quarterly earnings results on Tuesday. The company reported $1.50 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.09, Briefing.com reports. The business had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.33 billion. Weatherford International had a net margin of 8.12% and a return on equity of 56.68%. The company’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.97 earnings per share.

Weatherford International Stock Performance

Weatherford International stock traded up $6.55 during mid-day trading on Wednesday, hitting $124.64. 366,560 shares of the company’s stock traded hands, compared to its average volume of 813,334. Weatherford International has a one year low of $55.81 and a one year high of $127.45. The firm has a 50 day moving average price of $112.35 and a 200 day moving average price of $100.16. The company has a quick ratio of 1.37, a current ratio of 1.79 and a debt-to-equity ratio of 1.86. The company has a market cap of $9.01 billion, a PE ratio of 21.94, a price-to-earnings-growth ratio of 0.91 and a beta of 0.73.

Insider Activity at Weatherford International

In other news, EVP Scott C. Weatherholt sold 40,455 shares of Weatherford International stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $98.91, for a total value of $4,001,404.05. Following the transaction, the executive vice president now owns 125,019 shares of the company’s stock, valued at approximately $12,365,629.29. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Girish Saligram sold 60,000 shares of the stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $103.57, for a total value of $6,214,200.00. Following the completion of the sale, the chief executive officer now directly owns 146,895 shares of the company’s stock, valued at approximately $15,213,915.15. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Scott C. Weatherholt sold 40,455 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $98.91, for a total value of $4,001,404.05. Following the completion of the transaction, the executive vice president now owns 125,019 shares in the company, valued at approximately $12,365,629.29. The disclosure for this sale can be found here. Insiders have sold 135,455 shares of company stock worth $13,628,764 over the last quarter. 2.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on WFRD shares. TheStreet raised Weatherford International from a “c” rating to a “b” rating in a research note on Monday, March 11th. Bank of America increased their price objective on shares of Weatherford International from $123.00 to $135.00 and gave the stock a “buy” rating in a report on Monday, April 15th. Piper Sandler increased their price target on shares of Weatherford International from $138.00 to $180.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. Barclays initiated coverage on Weatherford International in a research report on Wednesday, February 28th. They issued an “overweight” rating and a $135.00 target price on the stock. Finally, Raymond James raised their price objective on Weatherford International from $134.00 to $152.00 and gave the stock a “strong-buy” rating in a report on Tuesday, April 16th. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Weatherford International presently has an average rating of “Buy” and a consensus target price of $131.00.

Weatherford International Company Profile

Weatherford International plc, an energy services company, provides equipment and services for the drilling, evaluation, completion, production, and intervention of oil, geothermal, and natural gas wells worldwide. The company operates through three segments: Drilling and Evaluation; Well Construction and Completions; and Production and Intervention.