Weatherford International (NASDAQ:WFRD) Posts Earnings Results

Weatherford International (NASDAQ:WFRD) posted its quarterly earnings results on Tuesday. The company reported $1.50 earnings per share (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 analysts’ expectations of $1.33 billion. Weatherford International had a net margin of 8.61% and a return on equity of 52.88%. The business’s quarterly revenue was up 14.5% on a year-over-year basis. During the same quarter last year, the company posted $0.97 earnings per share.

Weatherford International Trading Down 1.1 %

Shares of Weatherford International stock opened at $123.65 on Friday. The company has a debt-to-equity ratio of 1.48, a current ratio of 2.72 and a quick ratio of 1.37. The firm has a fifty day moving average price of $113.33 and a 200 day moving average price of $100.50. Weatherford International has a 1 year low of $55.81 and a 1 year high of $127.45. The stock has a market cap of $8.94 billion, a PE ratio of 20.01, a price-to-earnings-growth ratio of 0.99 and a beta of 0.73.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Benchmark reaffirmed a “buy” rating and issued a $155.00 price target on shares of Weatherford International in a report on Wednesday. Evercore ISI raised their price target on shares of Weatherford International from $130.00 to $151.00 and gave the stock an “outperform” rating in a report on Thursday. Barclays assumed coverage on shares of Weatherford International in a report on Wednesday, February 28th. They issued an “overweight” rating and a $135.00 price target for the company. Raymond James raised their price target on shares of Weatherford International from $134.00 to $152.00 and gave the stock a “strong-buy” rating in a report on Tuesday, April 16th. Finally, Piper Sandler raised their price target on shares of Weatherford International from $180.00 to $184.00 and gave the stock an “overweight” rating in a report on Thursday. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $134.11.

Insider Buying and Selling

In other Weatherford International news, Director Benjamin Duster sold 12,000 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $96.98, for a total value of $1,163,760.00. Following the completion of the transaction, the director now owns 12,801 shares in the company, valued at $1,241,440.98. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CAO Desmond J. Mills sold 11,000 shares of the business’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $98.04, for a total transaction of $1,078,440.00. Following the completion of the sale, the chief accounting officer now owns 18,211 shares of the company’s stock, valued at $1,785,406.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Benjamin Duster sold 12,000 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $96.98, for a total transaction of $1,163,760.00. Following the sale, the director now directly owns 12,801 shares of the company’s stock, valued at approximately $1,241,440.98. The disclosure for this sale can be found here. Insiders sold a total of 135,455 shares of company stock valued at $13,628,764 over the last 90 days. Insiders own 2.20% of the company’s stock.

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.