Weatherford International (NASDAQ:WFRD) Issues Earnings Results

Weatherford International (NASDAQ:WFRD) released its quarterly earnings results on Tuesday. The company reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.90 by ($0.35), Zacks reports. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.07 billion. Weatherford International had a return on equity of 28.31% and a net margin of 9.49%.During the same quarter last year, the company earned $1.87 EPS.

Weatherford International Trading Up 6.5%

NASDAQ:WFRD opened at $83.32 on Wednesday. The company has a market capitalization of $5.98 billion, a PE ratio of 13.04, a P/E/G ratio of 0.90 and a beta of 0.86. Weatherford International has a 52-week low of $52.70 and a 52-week high of $113.15. The stock’s 50 day moving average price is $94.57 and its 200 day moving average price is $95.79. The company has a quick ratio of 1.73, a current ratio of 2.31 and a debt-to-equity ratio of 0.83.

Weatherford International Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Thursday, August 6th will be paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Thursday, August 6th. Weatherford International’s dividend payout ratio (DPR) is currently 17.21%.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Raymond James Financial reduced their target price on Weatherford International from $125.00 to $122.00 and set an “outperform” rating for the company in a report on Friday, July 10th. Wall Street Zen lowered shares of Weatherford International from a “buy” rating to a “hold” rating in a report on Saturday, July 4th. Piper Sandler upped their target price on Weatherford International from $115.00 to $118.00 and gave the company an “overweight” rating in a report on Thursday, April 23rd. Zacks Research lowered Weatherford International from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 14th. Finally, 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 note on Friday, June 26th. Seven research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $113.78.

Hedge Funds Weigh In On Weatherford International

Institutional investors have recently modified their holdings of the business. Smartleaf Asset Management LLC increased its position in Weatherford International by 127.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 318 shares of the company’s stock valued at $25,000 after acquiring an additional 178 shares during the period. Los Angeles Capital Management LLC purchased a new stake in Weatherford International during the fourth quarter worth $26,000. EverSource Wealth Advisors LLC increased its holdings in Weatherford International by 83.5% during the 2nd 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. acquired a new position in shares of Weatherford International during the 3rd quarter worth approximately $52,000. Finally, Parkside Financial Bank & Trust lifted its position in shares of Weatherford International by 281.2% in the fourth quarter. Parkside Financial Bank & Trust now owns 976 shares of the company’s stock valued at $76,000 after acquiring an additional 720 shares in the last quarter. 97.23% of the stock is owned by institutional investors and hedge funds.

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.