Weatherford International (NASDAQ:WFRD) Issues Quarterly Earnings Results

Weatherford International (NASDAQ:WFRD) posted its quarterly earnings data on Wednesday. The company reported $1.50 earnings per share 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 Stock Performance

WFRD stock traded up $0.25 during midday trading on Wednesday, hitting $65.25. 1,887,005 shares of the company traded hands, compared to its average volume of 1,223,406. The business has a 50 day simple moving average of $72.68 and a 200-day simple moving average of $87.21. The company has a quick ratio of 1.49, a current ratio of 2.04 and a debt-to-equity ratio of 1.20. Weatherford International has a twelve month low of $60.45 and a twelve month high of $135.00. The stock has a market capitalization of $4.74 billion, a price-to-earnings ratio of 9.16, a price-to-earnings-growth ratio of 1.35 and a beta of 0.61.

Wall Street Analysts Forecast Growth

WFRD has been the subject of a number of research analyst reports. Evercore ISI cut their price target on shares of Weatherford International from $149.00 to $142.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Bank of America dropped their target price on shares of Weatherford International from $145.00 to $130.00 and set a “buy” rating for the company in a report on Monday, October 14th. Barclays lowered their price target on Weatherford International from $147.00 to $105.00 and set an “overweight” rating on the stock in a report on Wednesday, December 18th. The Goldman Sachs Group cut Weatherford International from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $132.00 to $98.00 in a report on Friday, December 13th. Finally, Piper Sandler assumed coverage on Weatherford International in a report on Thursday, December 19th. They issued a “neutral” rating and a $87.00 target price on the stock. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $121.25.

Insider Buying and Selling at Weatherford International

In related news, EVP Scott C. Weatherholt sold 44,505 shares of the stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $66.17, for a total transaction of $2,944,895.85. Following the completion of the sale, the executive vice president now directly owns 125,019 shares of the company’s stock, valued at approximately $8,272,507.23. This represents a 26.25 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP David John Reed sold 4,762 shares of the firm’s stock in a transaction 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 transaction, the executive vice president now directly owns 11,109 shares of the company’s stock, valued at approximately $807,179.94. This trade represents a 30.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.60% 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.