Weatherford International (NASDAQ:WFRD) Announces Quarterly Earnings Results

Weatherford International (NASDAQ:WFRD) posted its earnings results on Tuesday. The company reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.09, Briefing.com reports. The company had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.33 billion. Weatherford International had a return on equity of 52.88% and a net margin of 8.61%. Weatherford International’s revenue was up 14.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.97 earnings per share.

Weatherford International Stock Down 1.1 %

Shares of NASDAQ:WFRD opened at $123.65 on Friday. The stock’s 50-day moving average price is $113.33 and its two-hundred day moving average price is $100.50. The company has a current ratio of 2.72, a quick ratio of 1.37 and a debt-to-equity ratio of 1.48. Weatherford International has a 12-month low of $55.81 and a 12-month high of $127.45. The firm has a market cap of $8.94 billion, a price-to-earnings ratio of 20.01, a PEG ratio of 0.99 and a beta of 0.73.

Insider Transactions at Weatherford International

In other news, EVP Scott C. Weatherholt sold 40,455 shares of the firm’s stock in a transaction dated Thursday, February 8th. The stock was 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 directly owns 125,019 shares in the company, valued at approximately $12,365,629.29. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, EVP Scott C. Weatherholt sold 40,455 shares of the firm’s stock in a transaction dated Thursday, February 8th. The stock was 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 directly owns 125,019 shares in the company, valued at approximately $12,365,629.29. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Girish Saligram sold 60,000 shares of the firm’s 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 transaction, the chief executive officer now owns 146,895 shares in the company, valued at $15,213,915.15. The disclosure for this sale can be found here. Insiders have sold a total of 135,455 shares of company stock worth $13,628,764 in the last three months. 2.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts have weighed in on WFRD shares. Benchmark reissued a “buy” rating and issued a $155.00 target price on shares of Weatherford International in a report on Wednesday. Evercore ISI increased their price objective on Weatherford International from $130.00 to $151.00 and gave the company an “outperform” rating in a research note on Thursday. Piper Sandler increased their price objective on Weatherford International from $180.00 to $184.00 and gave the company an “overweight” rating in a research note on Thursday. Raymond James increased their price objective on Weatherford International from $134.00 to $152.00 and gave the company a “strong-buy” rating in a research note on Tuesday, April 16th. Finally, Bank of America increased their price objective on Weatherford International from $123.00 to $135.00 and gave the company a “buy” rating in a research note on Monday, April 15th. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $134.11.

About Weatherford International

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.