Weatherford International (NASDAQ:WFRD) Issues Quarterly Earnings Results

Key Points

• Weatherford International exceeded quarterly earnings expectations: The company reported $1.66 in earnings per share, beating the $1.30 consensus estimate, while revenue reached $1.14 billion versus expectations of $1.13 billion.
• Shares rose 2.9% to $79.34 following the results, although the stock remains below its 50-day and 200-day moving averages and well below its one-year high of $113.15.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $115.29; however, company insiders have sold 26,094 shares worth approximately $2.24 million over the past 90 days.

Weatherford International (NASDAQ:WFRD - Get Free Report) issued its quarterly earnings data on Tuesday. The company reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.30 by $0.36, FiscalAI reports. Weatherford International had a net margin of 7.66% and a return on equity of 21.50%. The firm had revenue of $1.14 billion for the quarter, compared to analysts' expectations of $1.13 billion.

Weatherford International Trading Up 2.9%

Shares of WFRD stock traded up $2.25 on Tuesday, reaching $79.34. 1,602,119 shares of the stock were exchanged, compared to its average volume of 1,226,010. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.34 and a quick ratio of 1.77. Weatherford International has a one year low of $64.67 and a one year high of $113.15. The stock has a market cap of $5.67 billion, a PE ratio of 15.65, a P/E/G ratio of 1.39 and a beta of 1.05. The stock has a 50 day moving average price of $86.30 and a 200 day moving average price of $92.49.

Insider Activity at Weatherford International

In other Weatherford International news, Director Neal P. Goldman sold 16,000 shares of the business's stock in a transaction dated Thursday, July 23rd. The stock was sold at an average price of $84.84, for a total transaction of $1,357,440.00. Following the completion of the sale, the director directly owned 12,187 shares of the company's stock, valued at approximately $1,033,945.08. The trade was a 56.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Jacqueline C. Mutschler sold 4,094 shares of the business's stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $90.50, for a total value of $370,507.00. Following the sale, the director directly owned 29,093 shares of the company's stock, valued at $2,632,916.50. This represents a 12.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 26,094 shares of company stock worth $2,244,487 over the last 90 days. Insiders own 2.08% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Citigroup dropped their price target on Weatherford International from $115.00 to $112.00 and set a "buy" rating for the company in a report on Monday. Raymond James Financial cut their price objective on Weatherford International from $125.00 to $122.00 and set an "outperform" rating for the company in a research report on Friday, July 10th. The Goldman Sachs Group cut their price target on Weatherford International from $106.00 to $94.00 and set a "neutral" rating for the company in a report on Wednesday, October 14th. Barclays reduced their price target on shares of Weatherford International from $151.00 to $148.00 and set an "overweight" rating on the stock in a research report on Thursday, October 15th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Weatherford International in a report on Monday, October 12th. Six equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $115.29.

Weatherford International Company Profile

Weatherford International plc is an energy services company that provides equipment, technology and services to the oil and natural gas industry. Its offerings support the life cycle of a well, from drilling and formation evaluation to completion, production, intervention and abandonment.

The company's product and service portfolio includes drilling systems, well logging and evaluation tools, completion equipment, artificial-lift systems, production optimization technologies, well intervention services and digital solutions.

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