Weatherford International (NASDAQ:WFRD) Releases Earnings Results, Beats Estimates By $0.14 EPS

Weatherford International (NASDAQ:WFRD) announced its earnings results on Tuesday. The company reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.14, Zacks reports. Weatherford International had a net margin of 9.18% and a return on equity of 40.65%. The business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.21 billion.

Weatherford International Stock Up 1.5 %

Shares of NASDAQ:WFRD opened at $44.97 on Wednesday. Weatherford International has a 12 month low of $36.74 and a 12 month high of $135.00. The firm has a market cap of $3.28 billion, a P/E ratio of 6.69, a P/E/G ratio of 1.65 and a beta of 0.70. The company has a quick ratio of 1.49, a current ratio of 2.01 and a debt-to-equity ratio of 1.26. The company’s 50-day moving average price is $53.38 and its two-hundred day moving average price is $69.01.

Weatherford International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders of record on Tuesday, May 6th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.22%. Weatherford International’s dividend payout ratio (DPR) is presently 14.88%.

Insider Transactions at Weatherford International

In other Weatherford International news, CAO Desmond J. Mills sold 19,425 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $67.51, for a total value of $1,311,381.75. Following the transaction, the chief accounting officer now directly owns 17,899 shares of the company’s stock, valued at approximately $1,208,361.49. This trade represents a 52.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Scott C. Weatherholt sold 44,505 shares of the stock in a transaction 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 transaction, the executive vice president now directly owns 125,019 shares in the company, valued at approximately $8,272,507.23. This trade represents a 26.25 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 87,930 shares of company stock worth $5,861,718. Corporate insiders own 1.60% of the company’s stock.

Analysts Set New Price Targets

WFRD has been the subject of a number of research analyst reports. Piper Sandler cut their price objective on shares of Weatherford International from $87.00 to $82.00 and set a “neutral” rating for the company in a research report on Monday, February 10th. Benchmark decreased their price objective on Weatherford International from $140.00 to $125.00 and set a “buy” rating on the stock in a report on Friday, February 7th. Raymond James decreased their price target on shares of Weatherford International from $97.00 to $73.00 and set a “strong-buy” rating on the stock in a research note on Monday, April 14th. Finally, Barclays decreased their target price on shares of Weatherford International from $92.00 to $85.00 and set an “overweight” rating on the stock in a research report on Monday, March 31st. Two equities research 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. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $103.75.

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.