Cactus, Inc. designs, manufactures, sells, and rents a range of wellheads and pressure control equipment in the United States, Australia, China, and the Kingdom of Saudi Arabia. The company's principal products include Cactus SafeDrill wellhead systems, Cactus SafeLink monobore, SafeClamp, and SafeInject systems, as well as frac stacks, zipper manifolds, and production trees. It also provides field services, such as 24-hour service crews to assist with the installation, maintenance, repair, and safe handling of the wellhead and pressure control equipment; and repair and refurbishment services. The company sells or rents its products for onshore unconventional oil and gas wells for drilling, completion, and production phases of the wells. In addition, it operates 15 service centers in the United States, as well as 3 service centers in Eastern Australia. Cactus, Inc. was founded in 2011 and is headquartered in Houston, Texas.
Wall Street Analyst Weigh In
Several brokerages have issued reports on WHD. Barclays cut their target price on shares of Cactus from $57.00 to $52.00 and set an "overweight" rating on the stock in a research note on Monday, August 8th. Morgan Stanley reduced their price objective on Cactus from $60.00 to $50.00 and set an "equal weight" rating for the company in a research note on Wednesday, July 13th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $53.80.
Cactus Stock Up 3.6 %
Shares of WHD Stock opened at $43.56 on Friday. The stock's 50 day simple moving average is $40.93 and its 200 day simple moving average is $48.19. Cactus has a twelve month low of $31.65 and a twelve month high of $64.18. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.00 and a current ratio of 5.23. The company has a market capitalization of $3.30 billion, a price-to-earnings ratio of 35.13, a PEG ratio of 0.68 and a beta of 1.98.
Cactus (NYSE:WHD - Get Rating) last announced its quarterly earnings results on Thursday, August 4th. The company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.36 by $0.08. The company had revenue of $170.20 million for the quarter, compared to the consensus estimate of $161.11 million. Cactus had a return on equity of 12.05% and a net margin of 13.43%. The company's revenue for the quarter was up 56.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.16 earnings per share. As a group, research analysts predict that Cactus will post 1.69 EPS for the current year.
Cactus Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Monday, August 29th will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date of this dividend is Friday, August 26th. Cactus's dividend payout ratio is 35.48%.
Insider Buying and Selling at Cactus
In related news, VP Steven Bender sold 20,000 shares of the business's stock in a transaction dated Thursday, May 19th. The stock was sold at an average price of $48.00, for a total transaction of $960,000.00. Following the completion of the transaction, the vice president now owns 107,879 shares of the company's stock, valued at approximately $5,178,192. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, VP Steven Bender sold 20,000 shares of the firm's stock in a transaction on Thursday, May 19th. The shares were sold at an average price of $48.00, for a total value of $960,000.00. Following the sale, the vice president now owns 107,879 shares in the company, valued at $5,178,192. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Joel Bender sold 542,336 shares of the company's stock in a transaction on Tuesday, June 7th. The shares were sold at an average price of $54.00, for a total transaction of $29,286,144.00. Following the transaction, the chief operating officer now owns 68,604 shares of the company's stock, valued at $3,704,616. The disclosure for this sale can be found here. Insiders sold 1,389,748 shares of company stock worth $73,478,068 over the last ninety days. Company insiders own 21.10% of the company's stock.