Weatherford International (NASDAQ:WFRD) Share Price Breaks Above 50 Day Moving Average - Time to Sell?

Key Points

• Weatherford shares rose above their 50-day moving average, trading as high as $86.96 and last at $85.50, versus a 50-day average of $84.61.
• Analysts have trimmed several price targets, but the consensus remains “Moderate Buy” from six Buy and three Hold ratings, with an average target of $115.57.
• Quarterly EPS of $1.66 beat the $1.33 estimate, and revenue slightly exceeded forecasts at $1.14 billion, though it fell 7.2% year over year. The company also announced a $0.275 quarterly dividend.

Weatherford International PLC (NASDAQ:WFRD - Get Free Report) shares passed above its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $84.61 and traded as high as $86.96. Weatherford International shares last traded at $85.50, with a volume of 612,692 shares traded.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on WFRD shares. Barclays cut their price objective on shares of Weatherford International from $148.00 to $139.00 and set an "overweight" rating on the stock in a research report on Thursday, October 22nd. Piper Sandler lowered their target price on shares of Weatherford International from $118.00 to $110.00 and set an "overweight" rating for the company in a research note on Monday, October 19th. Weiss Ratings upgraded shares of Weatherford International from a "hold (c)" rating to a "hold (c+)" rating in a report on Tuesday, October 27th. Zacks Research raised shares of Weatherford International from a "strong sell" rating to a "hold" rating in a research note on Friday, October 23rd. Finally, The Goldman Sachs Group reduced their price target on shares of Weatherford International from $106.00 to $94.00 and set a "neutral" rating on the stock in a research note on Wednesday, October 14th. Six analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Weatherford International presently has a consensus rating of "Moderate Buy" and a consensus price target of $115.57.

Weatherford International Stock Up 1.3%

The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.52 and a current ratio of 2.04. The company has a fifty day simple moving average of $84.61 and a two-hundred day simple moving average of $92.86. The firm has a market capitalization of $6.20 billion, a PE ratio of 15.24, a PEG ratio of 1.46 and a beta of 0.83.

Weatherford International (NASDAQ:WFRD - Get Free Report) last announced its quarterly earnings results on Tuesday, October 20th. The company reported $1.66 EPS for the quarter, beating the consensus estimate of $1.33 by $0.33. The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.13 billion. Weatherford International had a return on equity of 22.39% and a net margin of 8.64%. The business's revenue for the quarter was down 7.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.12 earnings per share. Analysts forecast that Weatherford International PLC will post 5.57 EPS for the current fiscal year.

Weatherford International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 3rd. Shareholders of record on Friday, November 6th will be issued a dividend of $0.2750 per share. This represents a $1.10 annualized dividend and a yield of 1.3%. The ex-dividend date is Friday, November 6th. Weatherford International's dividend payout ratio is presently 19.61%.

Hedge Funds Weigh In On Weatherford International

Several institutional investors have recently bought and sold shares of the business. First Trust Advisors LP boosted its position in Weatherford International by 12.4% during the 1st quarter. First Trust Advisors LP now owns 1,760,467 shares of the company's stock valued at $166,505,000 after acquiring an additional 194,654 shares in the last quarter. Readystate Asset Management LP bought a new position in shares of Weatherford International in the 2nd quarter worth $15,269,000. Bank of New York Mellon Corp lifted its stake in shares of Weatherford International by 15.5% during the 1st quarter. Bank of New York Mellon Corp now owns 794,732 shares of the company's stock worth $75,166,000 after purchasing an additional 106,716 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in shares of Weatherford International by 60.2% during the 3rd quarter. Russell Investments Group Ltd. now owns 281,107 shares of the company's stock worth $22,118,000 after purchasing an additional 105,637 shares during the last quarter. Finally, Sei Investments Co. lifted its stake in shares of Weatherford International by 193.7% during the 1st quarter. Sei Investments Co. now owns 149,935 shares of the company's stock worth $14,181,000 after purchasing an additional 98,882 shares during the last quarter. 97.23% of the stock is owned by hedge funds and other institutional investors.

About Weatherford International

Weatherford International plc is an energy services company that provides equipment, technology and services to oil and natural gas operators. Its offerings support multiple stages of the well lifecycle, including drilling and construction, formation evaluation, completion, production and well intervention.

The company's products and services include artificial-lift systems, drilling and well-construction technologies, completion tools, production optimization, and digital solutions for monitoring and managing operations.

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