Weatherford International (NASDAQ:WFRD) Announces Earnings Results

Weatherford International (NASDAQ:WFRD) announced its earnings results on Wednesday. The company reported $1.50 earnings per share for the quarter, missing the consensus estimate of $1.80 by ($0.30), Zacks reports. Weatherford International had a net margin of 9.65% and a return on equity of 46.25%.

Weatherford International Trading Up 0.2 %

Shares of NASDAQ:WFRD opened at $65.36 on Friday. The business’s 50-day moving average is $71.99 and its 200 day moving average is $86.90. The company has a debt-to-equity ratio of 1.20, a current ratio of 2.04 and a quick ratio of 1.49. Weatherford International has a 1 year low of $60.45 and a 1 year high of $135.00. The firm has a market capitalization of $4.75 billion, a P/E ratio of 9.18, a P/E/G ratio of 1.35 and a beta of 0.61.

Weatherford International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Friday, February 21st will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $1.00 annualized dividend and a yield of 1.53%. Weatherford International’s dividend payout ratio (DPR) is 14.04%.

Insider Transactions at Weatherford International

In other Weatherford International news, EVP Scott C. Weatherholt sold 44,505 shares of Weatherford International stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $66.17, for a total transaction of $2,944,895.85. Following the completion of the sale, the executive vice president now directly owns 125,019 shares in the company, valued at approximately $8,272,507.23. The trade was a 26.25 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP David John Reed sold 4,762 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $72.66, for a total transaction of $346,006.92. Following the completion of the sale, the executive vice president now directly owns 11,109 shares in the company, valued at approximately $807,179.94. The trade was a 30.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. The Goldman Sachs Group lowered shares of Weatherford International from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $132.00 to $98.00 in a research report on Friday, December 13th. Barclays decreased their price target on Weatherford International from $147.00 to $105.00 and set an “overweight” rating for the company in a research note on Wednesday, December 18th. Bank of America cut their price objective on Weatherford International from $145.00 to $130.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Piper Sandler initiated coverage on Weatherford International in a research report on Thursday, December 19th. They set a “neutral” rating and a $87.00 target price for the company. Finally, Citigroup cut their price target on shares of Weatherford International from $110.00 to $95.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $121.25.

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.