Cactus (NYSE:WHD) Announces Quarterly Earnings Results, Beats Expectations By $0.29 EPS

Cactus (NYSE:WHD) released its quarterly earnings data on Wednesday. The company reported $0.93 EPS for the quarter, topping the consensus estimate of $0.64 by $0.29, FiscalAI reports. Cactus had a return on equity of 15.43% and a net margin of 6.17%.The company had revenue of $449.53 million during the quarter, compared to the consensus estimate of $400.82 million.

Cactus Stock Performance

NYSE WHD traded down $0.83 during trading hours on Wednesday, hitting $52.31. 730,859 shares of the company’s stock traded hands, compared to its average volume of 910,627. The business’s fifty day moving average price is $55.66 and its two-hundred day moving average price is $54.15. The company has a current ratio of 2.61, a quick ratio of 1.71 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $4.19 billion, a P/E ratio of 49.35, a P/E/G ratio of 2.03 and a beta of 1.38. Cactus has a 52 week low of $33.20 and a 52 week high of $64.30.

Cactus Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Monday, June 1st were issued a $0.14 dividend. The ex-dividend date of this dividend was Monday, June 1st. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.1%. Cactus’s dividend payout ratio (DPR) is presently 52.83%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Weiss Ratings upgraded shares of Cactus from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, June 11th. Piper Sandler boosted their target price on shares of Cactus from $72.00 to $73.00 and gave the company an “overweight” rating in a research note on Tuesday, July 14th. Citigroup increased their price target on Cactus from $65.00 to $67.00 and gave the company a “buy” rating in a report on Thursday, June 18th. Barclays raised their price target on Cactus from $62.00 to $70.00 and gave the stock an “overweight” rating in a research note on Monday, May 11th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $68.00 price objective (up from $66.00) on shares of Cactus in a report on Tuesday, June 16th. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Cactus currently has a consensus rating of “Moderate Buy” and a consensus price target of $63.60.

Insider Buying and Selling at Cactus

In other news, Director Michael Y. Mcgovern sold 12,000 shares of Cactus stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $56.57, for a total transaction of $678,840.00. Following the transaction, the director owned 15,990 shares in the company, valued at $904,554.30. This trade represents a 42.87% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Scott Bender sold 13,300 shares of the business’s stock in a transaction on Monday, July 27th. The shares were sold at an average price of $55.07, for a total transaction of $732,431.00. Following the sale, the chief executive officer directly owned 128,219 shares of the company’s stock, valued at approximately $7,061,020.33. The trade was a 9.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 35,506 shares of company stock valued at $1,989,135. Insiders own 12.91% of the company’s stock.

Hedge Funds Weigh In On Cactus

Several institutional investors and hedge funds have recently bought and sold shares of WHD. Aster Capital Management DIFC Ltd grew its holdings in Cactus by 73.4% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 742 shares of the company’s stock valued at $34,000 after purchasing an additional 314 shares during the period. Johnson Financial Group Inc. purchased a new position in shares of Cactus during the 3rd quarter valued at about $33,000. Advisors Asset Management Inc. lifted its position in shares of Cactus by 113.8% during the 1st quarter. Advisors Asset Management Inc. now owns 1,020 shares of the company’s stock valued at $47,000 after buying an additional 543 shares in the last quarter. Global Retirement Partners LLC grew its stake in shares of Cactus by 39,200.0% during the 4th quarter. Global Retirement Partners LLC now owns 1,179 shares of the company’s stock valued at $54,000 after acquiring an additional 1,176 shares during the period. Finally, United Services Automobile Association bought a new position in shares of Cactus during the 1st quarter valued at approximately $203,000. 85.11% of the stock is currently owned by hedge funds and other institutional investors.

About Cactus

Cactus, Inc, together with its subsidiaries, designs, manufactures, sells, and leases pressure control and spoolable pipes in the United States, Australia, Canada, the Middle East, and internationally. It operates through two segments, Pressure Control and Spoolable Technologies. The Pressure Control segment designs, manufactures, sells, and rents a range of wellhead and pressure control equipment under the Cactus Wellhead brand name through service centers. Its products are sold and rented primarily for onshore unconventional oil and gas wells for drilling, completion, and production phases of the wells.