Weatherford International (NASDAQ:WFRD) Announces Earnings Results

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

Weatherford International Trading Up 0.2 %

WFRD stock traded up $0.15 during midday trading on Thursday, reaching $65.40. The company’s stock had a trading volume of 848,671 shares, compared to its average volume of 1,205,963. The firm has a market capitalization of $4.75 billion, a price-to-earnings ratio of 9.18, a PEG ratio of 1.35 and a beta of 0.61. Weatherford International has a 1 year low of $60.45 and a 1 year high of $135.00. The stock has a fifty day simple moving average of $72.33 and a two-hundred day simple moving average of $87.06. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.49 and a current ratio of 2.04.

Insider Buying and Selling at Weatherford International

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

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on WFRD. Citigroup cut their price target on Weatherford International from $110.00 to $95.00 and set a “buy” rating for the company in a research note on Friday, December 20th. The Goldman Sachs Group downgraded shares of Weatherford International from a “buy” rating to a “neutral” rating and reduced their price target for the company from $132.00 to $98.00 in a report on Friday, December 13th. Piper Sandler started coverage on Weatherford International in a research report on Thursday, December 19th. They set a “neutral” rating and a $87.00 price objective for the company. Bank of America decreased their price target 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. Finally, Evercore ISI decreased their target price on shares of Weatherford International from $149.00 to $142.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Weatherford International has an average rating of “Moderate Buy” and an average 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.