Weatherford International (NASDAQ:WFRD) Trading Down 5.7%

Weatherford International plc (NASDAQ:WFRD - Get Free Report) traded down 5.7% during mid-day trading on Wednesday . The company traded as low as $114.72 and last traded at $116.55. 404,880 shares changed hands during mid-day trading, a decline of 49% from the average session volume of 796,712 shares. The stock had previously closed at $123.65.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Benchmark restated a "buy" rating and issued a $155.00 target price on shares of Weatherford International in a research note on Wednesday, April 24th. Citigroup initiated coverage on Weatherford International in a research report on Tuesday, May 14th. They issued a "buy" rating and a $155.00 price target for the company. Evercore ISI increased their price target on Weatherford International from $130.00 to $151.00 and gave the company an "outperform" rating in a report on Thursday, April 25th. Barclays boosted their price objective on Weatherford International from $135.00 to $160.00 and gave the stock an "overweight" rating in a research report on Friday, April 26th. Finally, Piper Sandler increased their price target on shares of Weatherford International from $180.00 to $184.00 and gave the company an "overweight" rating in a report on Thursday, April 25th. Eight investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Weatherford International has a consensus rating of "Buy" and a consensus target price of $146.11.

Weatherford International Trading Down 4.9 %

The company has a market cap of $8.60 billion, a price-to-earnings ratio of 18.79, a price-to-earnings-growth ratio of 0.90 and a beta of 0.71. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 1.48. The company's fifty day moving average price is $119.92 and its two-hundred day moving average price is $104.34.

Weatherford International (NASDAQ:WFRD - Get Free Report) last issued its quarterly earnings data on Tuesday, April 23rd. The company reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.09. The firm had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.33 billion. Weatherford International had a return on equity of 52.88% and a net margin of 8.61%. The business's revenue for the quarter was up 14.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.97 EPS. Research analysts expect that Weatherford International plc will post 6.94 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Charles M. Sledge sold 10,000 shares of the business's stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $123.47, for a total value of $1,234,700.00. Following the completion of the transaction, the director now owns 32,729 shares in the company, valued at approximately $4,041,049.63. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Weatherford International

Hedge funds have recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust raised its position in shares of Weatherford International by 23.6% during the 3rd quarter. Parkside Financial Bank & Trust now owns 560 shares of the company's stock valued at $51,000 after acquiring an additional 107 shares during the last quarter. Xponance Inc. increased its holdings in Weatherford International by 1.1% in the fourth quarter. Xponance Inc. now owns 10,532 shares of the company's stock valued at $1,030,000 after purchasing an additional 116 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its holdings in Weatherford International by 8.2% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,585 shares of the company's stock valued at $188,000 after purchasing an additional 120 shares during the last quarter. Oliver Luxxe Assets LLC boosted its holdings in Weatherford International by 1.1% during the first quarter. Oliver Luxxe Assets LLC now owns 11,324 shares of the company's stock worth $1,307,000 after buying an additional 125 shares during the last quarter. Finally, Mackenzie Financial Corp grew its position in shares of Weatherford International by 3.2% during the 4th quarter. Mackenzie Financial Corp now owns 4,497 shares of the company's stock worth $440,000 after buying an additional 140 shares during the period. Institutional investors own 97.23% of the company's stock.

Weatherford International Company Profile

Weatherford International plc, an energy services company, provides equipment and services for the drilling, evaluation, completion, production, and intervention of oil, geothermal, and natural gas wells worldwide. The company operates through three segments: Drilling and Evaluation; Well Construction and Completions; and Production and Intervention.