Weatherford International (NASDAQ:WFRD) Issues Earnings Results

Weatherford International (NASDAQ:WFRD - Get Free Report) issued its quarterly earnings data on Tuesday. The company reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.14, Zacks reports. The company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.21 billion. Weatherford International had a return on equity of 40.65% and a net margin of 9.18%.

Weatherford International Trading Up 3.1 %

Shares of WFRD stock traded up $1.30 during trading hours on Friday, hitting $42.74. 2,610,496 shares of the company were exchanged, compared to its average volume of 1,114,257. Weatherford International has a 1 year low of $36.74 and a 1 year high of $135.00. The firm has a fifty day moving average of $51.64 and a 200 day moving average of $67.98. The firm has a market cap of $3.11 billion, a PE ratio of 6.36, a PEG 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.

Weatherford International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders of record on Tuesday, May 6th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date of this dividend is Tuesday, May 6th. Weatherford International's dividend payout ratio is currently 16.00%.

Insider Activity at Weatherford International

In other Weatherford International news, CFO Arunava Mitra sold 10,000 shares of the business's stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $67.57, for a total transaction of $675,700.00. Following the completion of the sale, the chief financial officer now directly owns 21,072 shares in the company, valued at $1,423,835.04. The trade was a 32.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Desmond J. Mills sold 19,425 shares of the firm's stock in a transaction on Friday, February 7th. The shares were sold at an average price of $67.51, for a total transaction of $1,311,381.75. Following the completion of the transaction, the chief accounting officer now directly owns 17,899 shares in the company, valued at approximately $1,208,361.49. This represents a 52.04 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 87,930 shares of company stock worth $5,861,718. 1.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

WFRD has been the subject of a number of analyst reports. Raymond James downgraded shares of Weatherford International from a "strong-buy" rating to an "outperform" rating and cut their price objective for the stock from $73.00 to $69.00 in a research report on Thursday. Piper Sandler decreased their target price on Weatherford International from $80.00 to $62.00 and set a "neutral" rating on the stock in a research report on Thursday. Barclays decreased their price objective on shares of Weatherford International from $85.00 to $77.00 and set an "overweight" rating on the stock in a research report on Friday. Finally, Benchmark lowered their target price on Weatherford International from $140.00 to $125.00 and set a "buy" rating on the stock in a report on Friday, February 7th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $99.75.

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.