Weatherford International (NASDAQ:WFRD) Issues Earnings Results

Weatherford International (NASDAQ:WFRD) announced its quarterly earnings results on Wednesday. The company reported $1.50 EPS for the quarter, missing the consensus estimate of $1.80 by ($0.30), Zacks reports. Weatherford International had a net margin of 9.65% and a return on equity of 46.25%.

Weatherford International Stock Up 0.4 %

Shares of NASDAQ:WFRD traded up $0.25 during trading on Wednesday, hitting $65.25. 1,925,635 shares of the company’s stock traded hands, compared to its average volume of 1,225,085. The company has a current ratio of 2.04, a quick ratio of 1.49 and a debt-to-equity ratio of 1.20. The company has a 50-day moving average price of $72.68 and a 200-day moving average price of $87.21. Weatherford International has a 52 week low of $60.45 and a 52 week high of $135.00. The company has a market cap of $4.74 billion, a price-to-earnings ratio of 9.16, a price-to-earnings-growth ratio of 1.35 and a beta of 0.61.

Insider Buying and Selling

In other Weatherford International news, EVP David John Reed sold 4,762 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $72.66, for a total transaction of $346,006.92. Following the transaction, the executive vice president now owns 11,109 shares of the company’s stock, valued at $807,179.94. The trade was a 30.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Scott C. Weatherholt sold 44,505 shares of the stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $66.17, for a total value of $2,944,895.85. Following the completion of the sale, the executive vice president now directly owns 125,019 shares of the company’s stock, valued at approximately $8,272,507.23. The trade was a 26.25 % decrease in their position. The disclosure for this sale can be found here. 1.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Evercore ISI lowered their price objective on shares of Weatherford International from $149.00 to $142.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Citigroup dropped their price objective on Weatherford International from $110.00 to $95.00 and set a “buy” rating for the company in a report on Friday, December 20th. Bank of America reduced their target price on shares of Weatherford International from $145.00 to $130.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Benchmark reissued a “buy” rating and set a $155.00 price target on shares of Weatherford International in a research note on Thursday, October 24th. Finally, Piper Sandler assumed coverage on shares of Weatherford International in a report on Thursday, December 19th. They set a “neutral” rating and a $87.00 target price for the company. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $121.25.

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.