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

Weatherford International (NASDAQ:WFRD) posted its quarterly earnings results on Tuesday. The company reported $1.50 EPS for the quarter, topping the consensus estimate of $1.41 by $0.09, Briefing.com reports. The business had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.33 billion. Weatherford International had a net margin of 8.61% and a return on equity of 58.17%. The firm’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same period last year, the company posted $0.97 earnings per share.

Weatherford International Stock Up 5.9 %

Shares of NASDAQ WFRD opened at $125.01 on Thursday. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.37 and a current ratio of 1.79. Weatherford International has a 52 week low of $55.81 and a 52 week high of $127.45. The stock has a market capitalization of $9.04 billion, a P/E ratio of 20.23, a PEG ratio of 0.94 and a beta of 0.73. The stock’s fifty day moving average is $112.90 and its 200 day moving average is $100.33.

Insider Buying and Selling

In other Weatherford International news, EVP Scott C. Weatherholt sold 40,455 shares of Weatherford International stock in a transaction dated 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 transaction, the executive vice president now owns 125,019 shares in the company, valued at $12,365,629.29. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Weatherford International news, CEO Girish Saligram sold 60,000 shares of Weatherford International stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $103.57, for a total value of $6,214,200.00. Following the completion of the sale, the chief executive officer now directly owns 146,895 shares in the company, valued at $15,213,915.15. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Scott C. Weatherholt sold 40,455 shares of the company’s stock in a transaction 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 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. Over the last quarter, insiders have sold 135,455 shares of company stock worth $13,628,764. Company insiders own 2.20% of the company’s stock.

Analysts Set New Price Targets

WFRD has been the subject of a number of analyst reports. Piper Sandler lifted their target price on shares of Weatherford International from $138.00 to $180.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Bank of America lifted their target price on shares of Weatherford International from $123.00 to $135.00 and gave the company a “buy” rating in a research note on Monday, April 15th. Raymond James lifted their target price on shares of Weatherford International from $134.00 to $152.00 and gave the company a “strong-buy” rating in a research note on Tuesday, April 16th. Benchmark reiterated a “buy” rating and issued a $155.00 target price on shares of Weatherford International in a research note on Wednesday. Finally, Barclays began coverage on shares of Weatherford International in a research note on Wednesday, February 28th. They issued an “overweight” rating and a $135.00 target price for the company. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $131.00.

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.