Weatherford International (NASDAQ:WFRD) Announces Earnings Results, Beats Expectations By $0.47 EPS

Weatherford International (NASDAQ:WFRD) announced its earnings results on Tuesday. The company reported $1.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.02 by $0.47, FiscalAI reports. Weatherford International had a net margin of 8.76% and a return on equity of 28.07%. The firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same quarter last year, the business earned $1.03 earnings per share. Weatherford International’s revenue was down 3.4% compared to the same quarter last year.

Weatherford International Stock Performance

Shares of WFRD stock opened at $99.63 on Wednesday. The company’s fifty day simple moving average is $97.28 and its 200-day simple moving average is $85.12. Weatherford International has a 52 week low of $40.12 and a 52 week high of $110.57. The company has a current ratio of 2.19, a quick ratio of 1.65 and a debt-to-equity ratio of 0.86. The company has a market cap of $7.15 billion, a PE ratio of 16.80, a P/E/G ratio of 1.26 and a beta of 0.83.

Weatherford International Dividend Announcement

The firm also recently announced a dividend, which will be paid on Thursday, June 4th. Stockholders of record on Wednesday, May 6th will be paid a $0.275 dividend. The ex-dividend date of this dividend is Wednesday, May 6th. Weatherford International’s dividend payout ratio (DPR) is currently 18.55%.

Analyst Upgrades and Downgrades

WFRD has been the topic of a number of research analyst reports. Barclays decreased their price target on shares of Weatherford International from $114.00 to $111.00 and set an “overweight” rating on the stock in a report on Thursday, April 9th. Weiss Ratings reiterated a “hold (c)” rating on shares of Weatherford International in a report on Wednesday, January 21st. Piper Sandler lifted their price target on shares of Weatherford International from $110.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, April 15th. Royal Bank Of Canada initiated coverage on shares of Weatherford International in a report on Wednesday, March 18th. They issued an “outperform” rating and a $105.00 price target on the stock. Finally, Zacks Research lowered shares of Weatherford International from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 14th. Seven research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $102.00.

Insider Activity at Weatherford International

In other news, CEO Girish Saligram sold 100,000 shares of the firm’s stock in a transaction on Friday, February 6th. The shares were sold at an average price of $105.50, for a total value of $10,550,000.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Weatherford International

Hedge funds have recently made changes to their positions in the business. Quarry LP purchased a new position in shares of Weatherford International in the 4th quarter valued at $82,000. Brooklyn Investment Group purchased a new stake in Weatherford International during the 4th quarter worth $218,000. Orion Porfolio Solutions LLC purchased a new stake in Weatherford International during the 4th quarter worth $201,000. Steward Partners Investment Advisory LLC increased its stake in Weatherford International by 80.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,100 shares of the company’s stock worth $86,000 after buying an additional 489 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its stake in Weatherford International by 741.8% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,532 shares of the company’s stock worth $120,000 after buying an additional 1,350 shares during the period. Hedge funds and other institutional investors own 97.23% of the company’s stock.

Weatherford International Company Profile

Weatherford International (NASDAQ: WFRD) is a global oilfield services company specializing in the development, design and manufacturing of equipment and technologies for oil and natural gas drilling, evaluation, completion and production. The company’s core offerings include well construction services such as directional drilling and wellbore positioning, well completion solutions that encompass sand control and zonal isolation technologies, and production enhancement services involving artificial lift systems and well intervention tools.

In addition to its comprehensive service lines, Weatherford provides a range of drilling optimization and reservoir evaluation products.