Weatherford International (NASDAQ:WFRD) Releases Earnings Results, Misses Expectations By $0.30 EPS

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

Weatherford International Price Performance

Shares of WFRD traded up $0.25 during trading hours on Wednesday, reaching $65.25. The stock had a trading volume of 1,925,635 shares, compared to its average volume of 1,225,085. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.49 and a current ratio of 2.04. Weatherford International has a 12 month low of $60.45 and a 12 month high of $135.00. The company’s 50-day moving average is $72.68 and its two-hundred day moving average is $87.21. The stock has a market capitalization of $4.74 billion, a PE ratio of 9.16, a PEG ratio of 1.35 and a beta of 0.61.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on WFRD shares. Benchmark reiterated a “buy” rating and set a $155.00 target price on shares of Weatherford International in a research note on Thursday, October 24th. Barclays cut their target price on Weatherford International from $147.00 to $105.00 and set an “overweight” rating for the company in a research report on Wednesday, December 18th. Piper Sandler assumed coverage on shares of Weatherford International in a research report on Thursday, December 19th. They set a “neutral” rating and a $87.00 price objective for the company. Bank of America decreased their target price on shares of Weatherford International from $145.00 to $130.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Finally, Citigroup reduced their price target on shares of Weatherford International from $110.00 to $95.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $121.25.

Insider Buying and Selling

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