Weatherford International Ltd. (WFT) Issues Earnings Results

Weatherford International Ltd. (NYSE:WFT) released its quarterly earnings data on Wednesday. The company reported ($0.28) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.29) by $0.01. During the same period last year, the firm earned ($0.10) earnings per share. The company had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.44 billion. The company’s revenue for the quarter was down 41.3% compared to the same quarter last year.

Weatherford International (NYSE:WFT) traded down 3.70% during trading on Wednesday, hitting $5.73. The company’s stock had a trading volume of 18,498,896 shares. The firm’s market cap is $5.13 billion. Weatherford International has a 12 month low of $4.71 and a 12 month high of $11.49. The firm has a 50 day moving average of $5.95 and a 200 day moving average of $6.48.

WFT has been the subject of a number of research analyst reports. Vetr cut shares of Weatherford International from a “strong-buy” rating to a “buy” rating and set a $6.95 price objective for the company. in a research report on Monday, June 27th. Wells Fargo & Co. reaffirmed an “outperform” rating on shares of Weatherford International in a research report on Thursday, April 21st. Citigroup Inc. lifted their price objective on shares of Weatherford International from $7.00 to $8.00 and gave the stock a “buy” rating in a research report on Tuesday, June 14th. Imperial Capital initiated coverage on shares of Weatherford International in a research report on Friday, June 24th. They set an “in-line” rating and a $7.00 price objective for the company. Finally, Scotiabank reaffirmed a “sector perform” rating and set a $8.00 price objective (down from $9.00) on shares of Weatherford International in a research report on Saturday, May 7th. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $9.65.

In other news, Director Francis S. Kalman bought 30,000 shares of the company’s stock in a transaction that occurred on Monday, May 9th. The stock was bought at an average price of $5.29 per share, for a total transaction of $158,700.00. Following the transaction, the director now directly owns 70,056 shares of the company’s stock, valued at approximately $370,596.24. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Douglas M. Mills sold 5,070 shares of the business’s stock in a transaction that occurred on Monday, May 9th. The stock was sold at an average price of $5.65, for a total value of $28,645.50. Following the completion of the sale, the chief accounting officer now owns 224,423 shares of the company’s stock, valued at approximately $1,267,989.95. The disclosure for this sale can be found here.

Weatherford International Ltd. (Weatherford) is a provider of equipment and services used in the drilling, evaluation, completion, production and intervention of oil and natural gas wells. The Company operates four segments: North America, Latin America, Europe/West Africa/the former Soviet Union (FSU) and Middle East/North Africa/Asia.