Weatherford International (NASDAQ:WFRD) Releases Quarterly Earnings Results, Misses Expectations By $0.37 EPS

Weatherford International (NASDAQ:WFRD) released 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 net margin of 9.49% and a return on equity of 28.31%.

Weatherford International Trading Up 6.5%

WFRD stock traded up $5.12 during trading on Tuesday, hitting $83.32. The company had a trading volume of 2,703,280 shares, compared to its average volume of 1,344,994. The firm has a 50-day moving average price of $95.05 and a 200-day moving average price of $95.76. The company has a quick ratio of 1.73, a current ratio of 2.31 and a debt-to-equity ratio of 0.83. 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. Weatherford International has a 12 month low of $52.70 and a 12 month high of $113.15.

Institutional Investors Weigh In On Weatherford International

A number of institutional investors and hedge funds have recently modified their holdings of WFRD. Quarry LP acquired a new stake in Weatherford International during the fourth quarter worth approximately $82,000. Brooklyn Investment Group purchased a new position in Weatherford International during the fourth quarter worth about $218,000. Orion Porfolio Solutions LLC purchased a new position in shares of Weatherford International during the 4th quarter valued at about $201,000. Steward Partners Investment Advisory LLC increased its stake in shares of Weatherford International by 80.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,100 shares of the company’s stock worth $86,000 after buying an additional 489 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its position in Weatherford International by 741.8% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,532 shares of the company’s stock valued at $120,000 after purchasing an additional 1,350 shares during the period. 97.23% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on WFRD. Zacks Research lowered Weatherford International from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 14th. Wall Street Zen cut Weatherford International from a “buy” rating to a “hold” rating in a report on Saturday, July 4th. Raymond James Financial decreased their price objective on Weatherford International from $125.00 to $122.00 and set an “outperform” rating for the company in a report on Friday, July 10th. Weiss Ratings cut shares of Weatherford International from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, July 14th. Finally, Barclays lowered their price objective 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. Seven research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $113.78.

About Weatherford International

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.