Cactus (NYSE:WHD) Share Price Crosses Below Two Hundred Day Moving Average Following Insider Selling

Key Points

• Cactus shares fell 6.4% and slipped below their 200-day moving average, trading at $58.08 versus the $58.47 average. CEO Scott Bender sold 100,000 shares for $6.39 million under a pre-arranged Rule 10b5-1 plan, reducing his holdings by 45.35%.
• Quarterly earnings were $0.96 per share, beating estimates of $0.77, while revenue of $430.89 million came in below forecasts of $437.94 million; revenue rose 63.2% year over year.
• Analysts maintain a consensus “Moderate Buy” rating and a $74.75 average price target. Cactus also announced a $0.15 quarterly dividend, equivalent to a 1.0% yield.

Cactus, Inc. (NYSE:WHD - Get Free Report)'s share price crossed below its two hundred day moving average during trading on Wednesday after an insider sold shares in the company. The stock has a two hundred day moving average of $58.47 and traded as low as $57.57. Cactus shares last traded at $58.08, with a volume of 894,779 shares.

Specifically, CEO Scott Bender sold 100,000 shares of the company's stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $63.91, for a total value of $6,391,000.00. Following the completion of the sale, the chief executive officer owned 120,527 shares in the company, valued at approximately $7,702,880.57. This represents a 45.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Citigroup boosted their target price on Cactus from $73.00 to $74.00 and gave the stock a "neutral" rating in a research report on Tuesday. Stifel Nicolaus increased their price target on shares of Cactus from $68.00 to $72.00 and gave the company a "buy" rating in a research report on Friday, July 31st. Piper Sandler lifted their price objective on shares of Cactus from $75.00 to $78.00 and gave the stock an "overweight" rating in a research note on Tuesday. Barclays boosted their price objective on shares of Cactus from $74.00 to $75.00 and gave the company an "overweight" rating in a report on Thursday, October 15th. Finally, Wall Street Zen downgraded shares of Cactus from a "buy" rating to a "hold" rating in a research note on Saturday. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Cactus presently has a consensus rating of "Moderate Buy" and a consensus target price of $74.75.

Cactus Trading Down 6.4%

The company has a current ratio of 3.06, a quick ratio of 2.10 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $4.66 billion, a P/E ratio of 40.33, a PEG ratio of 1.58 and a beta of 1.38. The business has a 50 day moving average of $65.45 and a 200-day moving average of $58.47.

Cactus (NYSE:WHD - Get Free Report) last issued its quarterly earnings data on Wednesday, October 28th. The company reported $0.96 EPS for the quarter, topping analysts' consensus estimates of $0.77 by $0.19. The business had revenue of $430.89 million for the quarter, compared to analyst estimates of $437.94 million. Cactus had a net margin of 6.69% and a return on equity of 17.93%. The firm's quarterly revenue was up 63.2% on a year-over-year basis. During the same period last year, the business posted $0.67 earnings per share. Analysts anticipate that Cactus, Inc. will post 3.22 EPS for the current fiscal year.

Cactus Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 17th. Stockholders of record on Monday, November 30th will be paid a dividend of $0.15 per share. The ex-dividend date is Monday, November 30th. This represents a $0.60 annualized dividend and a dividend yield of 1.0%. Cactus's payout ratio is currently 41.67%.

Hedge Funds Weigh In On Cactus

Institutional investors have recently bought and sold shares of the business. Hohimer Wealth Management LLC increased its stake in shares of Cactus by 4.9% during the third quarter. Hohimer Wealth Management LLC now owns 4,604 shares of the company's stock worth $286,000 after purchasing an additional 216 shares during the period. Signaturefd LLC boosted its stake in Cactus by 56.8% in the 3rd quarter. Signaturefd LLC now owns 665 shares of the company's stock valued at $41,000 after purchasing an additional 241 shares during the period. Arizona State Retirement System boosted its stake in Cactus by 1.3% in the 2nd quarter. Arizona State Retirement System now owns 19,154 shares of the company's stock valued at $981,000 after purchasing an additional 242 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al grew its holdings in Cactus by 6.5% in the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 4,900 shares of the company's stock valued at $305,000 after buying an additional 300 shares in the last quarter. Finally, Your Advocates Ltd. LLP acquired a new position in Cactus in the 3rd quarter valued at $34,000. Institutional investors and hedge funds own 85.11% of the company's stock.

About Cactus

Cactus, Inc NYSE: WHD designs, manufactures, sells and rents wellhead and pressure-control equipment used in onshore oil and gas drilling and production. Its products are designed to help operators manage pressure and control access to wells during drilling, completion and production activities.

The company's offerings include wellhead systems, frac stacks, zipper manifolds and other pressure-control equipment. Cactus also provides field services, including equipment installation, maintenance and support, as well as rental services for selected products.

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