Weatherford International (NASDAQ:WFRD) Posts Earnings Results, Beats Expectations By $0.09 EPS

Weatherford International (NASDAQ:WFRD) issued its quarterly earnings results on Tuesday. The company reported $1.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.41 by $0.09, Briefing.com reports. The business had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.33 billion. Weatherford International had a net margin of 8.12% and a return on equity of 56.68%. The business’s revenue was up 14.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.97 earnings per share.

Weatherford International Stock Up 6.2 %

Shares of NASDAQ WFRD traded up $7.31 during trading hours on Wednesday, hitting $125.40. The stock had a trading volume of 526,948 shares, compared to its average volume of 815,399. The company has a market capitalization of $9.07 billion, a P/E ratio of 22.19, a P/E/G ratio of 0.91 and a beta of 0.73. The firm’s 50-day moving average price is $112.35 and its two-hundred day moving average price is $100.16. Weatherford International has a 52 week low of $55.81 and a 52 week high of $127.45. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.37 and a current ratio of 1.79.

Analyst Ratings Changes

Several research firms have issued reports on WFRD. Barclays began coverage on Weatherford International in a report on Wednesday, February 28th. They set an “overweight” rating and a $135.00 price objective on the stock. TheStreet upgraded Weatherford International from a “c” rating to a “b” rating in a report on Monday, March 11th. Piper Sandler boosted their price objective on Weatherford International from $138.00 to $180.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. Bank of America boosted their price objective on Weatherford International from $123.00 to $135.00 and gave the stock a “buy” rating in a report on Monday, April 15th. Finally, Raymond James upped their target price on Weatherford International from $134.00 to $152.00 and gave the company a “strong-buy” rating in a report on Tuesday, April 16th. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Weatherford International currently has a consensus rating of “Buy” and an average target price of $131.00.

Insider Activity at Weatherford International

In other Weatherford International news, Director Benjamin Duster sold 12,000 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $96.98, for a total transaction of $1,163,760.00. Following the completion of the sale, the director now owns 12,801 shares of the company’s stock, valued at $1,241,440.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Weatherford International news, Director Benjamin Duster sold 12,000 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $96.98, for a total transaction of $1,163,760.00. Following the completion of the sale, the director now owns 12,801 shares of the company’s stock, valued at $1,241,440.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Scott C. Weatherholt sold 40,455 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $98.91, for a total value of $4,001,404.05. Following the sale, the executive vice president now directly owns 125,019 shares of the company’s stock, valued at approximately $12,365,629.29. The disclosure for this sale can be found here. In the last quarter, insiders sold 135,455 shares of company stock valued at $13,628,764. 2.20% of the stock is owned by corporate insiders.

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.