Weatherford International (NASDAQ:WFRD) Issues Earnings Results

Weatherford International (NASDAQ:WFRD) posted its quarterly earnings data on Tuesday. The company reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.47, FiscalAI reports. The business had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.14 billion. Weatherford International had a return on equity of 29.05% and a net margin of 9.49%.The company’s revenue for the quarter was down 3.4% on a year-over-year basis. During the same period last year, the company earned $1.03 EPS.

Weatherford International Stock Up 1.9%

Shares of WFRD opened at $102.96 on Thursday. 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 firm has a market capitalization of $7.38 billion, a P/E ratio of 16.09, a P/E/G ratio of 1.25 and a beta of 0.83. The firm has a fifty day moving average price of $97.23 and a 200-day moving average price of $85.23. Weatherford International has a 12-month low of $40.12 and a 12-month high of $110.57.

Weatherford International Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 4th. Stockholders of record on Wednesday, May 6th will be paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Wednesday, May 6th. Weatherford International’s payout ratio is currently 18.55%.

Insider Buying and Selling

In other Weatherford International news, CEO Girish Saligram sold 100,000 shares of the firm’s stock in a transaction on Friday, February 6th. The stock was sold at an average price of $105.50, for a total transaction of $10,550,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 2.09% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD raised its holdings in Weatherford International by 5.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,156,773 shares of the company’s stock worth $403,571,000 after purchasing an additional 281,984 shares in the last quarter. Fuller & Thaler Asset Management Inc. raised its stake in shares of Weatherford International by 3.6% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 1,928,226 shares of the company’s stock worth $150,903,000 after acquiring an additional 66,553 shares in the last quarter. Holocene Advisors LP lifted its position in Weatherford International by 712.8% during the second quarter. Holocene Advisors LP now owns 1,646,034 shares of the company’s stock valued at $82,812,000 after acquiring an additional 1,443,512 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Weatherford International by 18.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,539,727 shares of the company’s stock valued at $120,505,000 after acquiring an additional 238,154 shares in the last quarter. Finally, Millennium Management LLC lifted its holdings in shares of Weatherford International by 154.3% during the 3rd quarter. Millennium Management LLC now owns 1,159,192 shares of the company’s stock valued at $79,324,000 after purchasing an additional 703,401 shares during the last quarter. 97.23% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on WFRD. Zacks Research lowered Weatherford International from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 14th. Royal Bank Of Canada started coverage on shares of Weatherford International in a research report on Wednesday, March 18th. They set an “outperform” rating and a $105.00 price objective on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Weatherford International in a research note on Wednesday, January 21st. Wall Street Zen lowered shares of Weatherford International from a “strong-buy” rating to a “buy” rating in a report on Wednesday, April 1st. Finally, Citigroup upped their price target on shares of Weatherford International from $93.00 to $115.00 and gave the company a “buy” rating in a report on Friday, February 13th. Seven research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $102.00.

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.