Fintel reports that on July 18, 2023, Citigroup maintained coverage of Cactus Inc - (NYSE:WHD) with a Neutral recommendation.
Analyst Price Forecast Suggests 4.10% Upside
As of July 6, 2023, the average one-year price target for Cactus Inc - is 49.98. The forecasts range from a low of 40.40 to a high of $64.05. The average price target represents an increase of 4.10% from its latest reported closing price of 48.01.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Cactus Inc - is 839MM, an increase of 8.90%. The projected annual non-GAAP EPS is 2.46.
Cactus Inc - Declares $0.11 Dividend
On May 9, 2023 the company declared a regular quarterly dividend of $0.11 per share ($0.44 annualized). Shareholders of record as of May 30, 2023 received the payment on June 15, 2023. Previously, the company paid $0.11 per share.
At the current share price of $48.01 / share, the stock's dividend yield is 0.92%.
Looking back five years and taking a sample every week, the average dividend yield has been 1.27%, the lowest has been 0.71%, and the highest has been 3.23%. The standard deviation of yields is 0.45 (n=194).
The current dividend yield is 0.79 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.21. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.22%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 620 funds or institutions reporting positions in Cactus Inc -. This is an increase of 11 owner(s) or 1.81% in the last quarter. Average portfolio weight of all funds dedicated to WHD is 0.28%, a decrease of 22.16%. Total shares owned by institutions increased in the last three months by 4.98% to 88,623K shares. 
The put/call ratio of WHD is 1.41, indicating a bearish outlook.
What are Other Shareholders Doing?
T. Rowe Price Investment Management holds 3,043K shares representing 4.72% ownership of the company. In it's prior filing, the firm reported owning 3,051K shares, representing a decrease of 0.26%. The firm decreased its portfolio allocation in WHD by 23.55% over the last quarter.
Wellington Management Group Llp holds 2,626K shares representing 4.07% ownership of the company. In it's prior filing, the firm reported owning 1,566K shares, representing an increase of 40.36%. The firm decreased its portfolio allocation in WHD by 80.81% over the last quarter.
Bank of New York Mellon holds 2,361K shares representing 3.66% ownership of the company. In it's prior filing, the firm reported owning 2,422K shares, representing a decrease of 2.57%. The firm decreased its portfolio allocation in WHD by 23.40% over the last quarter.
Jpmorgan Chase holds 2,287K shares representing 3.54% ownership of the company. In it's prior filing, the firm reported owning 2,167K shares, representing an increase of 5.27%. The firm decreased its portfolio allocation in WHD by 89.95% over the last quarter.
Clearbridge Investments holds 2,080K shares representing 3.22% ownership of the company. In it's prior filing, the firm reported owning 2,037K shares, representing an increase of 2.07%. The firm decreased its portfolio allocation in WHD by 18.96% over the last quarter.
Cactus Background Information
(This description is provided by the company.)
Cactus designs, manufactures, sells and rents a range of highly engineered wellhead and pressure control equipment. Its products are sold and rented principally for onshore unconventional oil and gas wells and are utilized during the drilling, completion and production phases of its customers' wells. In addition, it provides �eld services for all its products and rental items to assist with the installation, maintenance and handling of the wellhead and pressure control equipment. Cactus operates service centers in the United States, which are strategically located in the key oil and gas producing regions, including the Permian, Marcellus, Utica, Haynesville, Eagle Ford, Bakken, and SCOOP/STACK, among other areas, and in Eastern Australia.
Additional reading:
- 2 Non-GAAP Measures This presentation includes references to EBITDA, Adjusted EBITDA, Adjusted EBITDA Margin, Segment EBITDA, Adjusted Segment EBITDA, Adjusted Segment EBITDA margin, and EBIT, which are not measures calculated in accordance with acco
- Cactus Announces $150 Million Stock Repurchase Program
- Form of Restricted Stock Agreement (four-year cliff vesting) under the Cactus, Inc. Long Term Incentive Plan
- Cactus Announces First Quarter 2023 Results
- 2 Non-GAAP Measures This presentation includes references to EBITDA, Adjusted EBITDA, Adjusted EBITDA Margin, and EBIT, which are not measures calculated in accordance with accounting principles generally accepted in the United States of America (“GA
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
