Weatherford International (NASDAQ:WFRD) Announces Earnings Results

Weatherford International (NASDAQ:WFRD) issued its earnings results on Tuesday. The company reported $0.55 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.37), Zacks reports. Weatherford International had a return on equity of 28.31% and a net margin of 9.49%.

Weatherford International Trading Up 6.5%

Shares of WFRD stock traded up $5.12 during mid-day trading on Tuesday, hitting $83.32. 2,703,034 shares of the company’s stock were exchanged, compared to its average volume of 1,342,429. The stock has a market cap of $5.98 billion, a price-to-earnings ratio of 13.04, a PEG ratio of 0.93 and a beta of 0.86. The stock has a 50-day simple moving average of $95.05 and a two-hundred day simple moving average of $95.76. Weatherford International has a fifty-two week low of $52.70 and a fifty-two week high of $113.15. The company has a quick ratio of 1.73, a current ratio of 2.31 and a debt-to-equity ratio of 0.83.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Weiss Ratings lowered shares of Weatherford International from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, July 14th. Wall Street Zen downgraded Weatherford International from a “buy” rating to a “hold” rating in a research note on Saturday, July 4th. Citigroup decreased their target price on Weatherford International from $137.00 to $115.00 and set a “buy” rating on the stock in a research report on Friday, June 26th. Barclays dropped their price target on Weatherford International from $156.00 to $154.00 and set an “overweight” rating for the company in a research report on Thursday, July 16th. Finally, Piper Sandler boosted their price objective on shares of Weatherford International from $115.00 to $118.00 and gave the stock an “overweight” rating in a research report on Thursday, April 23rd. Seven equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $113.78.

Institutional Trading of Weatherford International

Institutional investors and hedge funds have recently bought and sold shares of the business. Smartleaf Asset Management LLC grew its stake in Weatherford International by 127.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 318 shares of the company’s stock worth $25,000 after buying an additional 178 shares during the period. Los Angeles Capital Management LLC purchased a new stake in shares of Weatherford International in the fourth quarter worth about $26,000. EverSource Wealth Advisors LLC grew its position in Weatherford International by 83.5% in the second quarter. EverSource Wealth Advisors LLC now owns 556 shares of the company’s stock valued at $28,000 after acquiring an additional 253 shares in the last quarter. Johnson Financial Group Inc. purchased a new stake in shares of Weatherford International during the third quarter valued at approximately $52,000. Finally, Parkside Financial Bank & Trust lifted its position in shares of Weatherford International by 281.2% during the fourth quarter. Parkside Financial Bank & Trust now owns 976 shares of the company’s stock worth $76,000 after purchasing an additional 720 shares in the last quarter. Institutional investors and hedge funds 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.