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

Weatherford International (NASDAQ:WFRD) released its quarterly 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 Price Performance

Weatherford International stock traded up $5.12 during midday trading on Tuesday, hitting $83.32. The company’s stock had a trading volume of 2,703,034 shares, compared to its average volume of 1,342,429. 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’s 50-day moving average price is $95.05 and its 200-day moving average price is $95.76. Weatherford International has a 12 month low of $52.70 and a 12 month high of $113.15. The company has a market capitalization of $5.98 billion, a PE ratio of 13.04, a price-to-earnings-growth ratio of 0.93 and a beta of 0.86.

Hedge Funds Weigh In On Weatherford International

Several hedge funds have recently made changes to their positions in WFRD. Corient Private Wealth LLC raised its position in shares of Weatherford International by 3.1% during the fourth quarter. Corient Private Wealth LLC now owns 4,914 shares of the company’s stock worth $383,000 after purchasing an additional 146 shares during the period. Smartleaf Asset Management LLC boosted its position in shares of 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 purchasing an additional 178 shares during the period. Cetera Investment Advisers increased its stake in Weatherford International by 2.0% in the 4th quarter. Cetera Investment Advisers now owns 11,104 shares of the company’s stock worth $869,000 after purchasing an additional 220 shares in the last quarter. Deutsche Bank AG increased its stake in Weatherford International by 3.3% in the 4th quarter. Deutsche Bank AG now owns 6,872 shares of the company’s stock worth $538,000 after purchasing an additional 222 shares in the last quarter. Finally, Treasurer of the State of North Carolina raised its holdings in shares of Weatherford International by 0.7% during the second quarter. Treasurer of the State of North Carolina now owns 33,245 shares of the company’s stock valued at $1,673,000 after acquiring an additional 225 shares during the period. Institutional investors and hedge funds own 97.23% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.