Weatherford International (NASDAQ:WFRD) Stock Price Down 7.3% - Here's What Happened

Weatherford International PLC (NASDAQ:WFRD - Get Free Report) fell 7.3% during trading on Monday . The company traded as low as $47.58 and last traded at $47.33. 510,362 shares changed hands during trading, a decline of 57% from the average session volume of 1,193,627 shares. The stock had previously closed at $51.04.

Analyst Upgrades and Downgrades

Several research firms have recently commented on WFRD. Citigroup lowered their price target on shares of Weatherford International from $90.00 to $70.00 and set a "buy" rating on the stock in a report on Tuesday, May 13th. Barclays lowered their target price on Weatherford International from $85.00 to $77.00 and set an "overweight" rating on the stock in a research note on Friday, April 25th. Piper Sandler reduced their price target on Weatherford International from $80.00 to $62.00 and set a "neutral" rating for the company in a report on Thursday, April 24th. Finally, Raymond James Financial cut Weatherford International from a "strong-buy" rating to an "outperform" rating and lowered their price target for the company from $73.00 to $69.00 in a research note on Thursday, April 24th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Weatherford International has a consensus rating of "Moderate Buy" and an average price target of $96.63.

Weatherford International Price Performance

The company's fifty day simple moving average is $46.55 and its 200-day simple moving average is $57.39. The stock has a market cap of $3.42 billion, a P/E ratio of 7.54, a price-to-earnings-growth ratio of 1.45 and a beta of 0.73. The company has a current ratio of 2.08, a quick ratio of 1.52 and a debt-to-equity ratio of 1.16.

Weatherford International (NASDAQ:WFRD - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The company reported $1.03 EPS for the quarter, topping the consensus estimate of $0.89 by $0.14. Weatherford International had a return on equity of 35.88% and a net margin of 8.79%. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.21 billion. As a group, sell-side analysts forecast that Weatherford International PLC will post 5.89 EPS for the current year.

Weatherford International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 5th. Investors of record on Tuesday, May 6th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, May 6th. This represents a $1.00 dividend on an annualized basis and a yield of 2.12%. Weatherford International's dividend payout ratio (DPR) is presently 16.00%.

Insiders Place Their Bets

In related news, Director Neal P. Goldman bought 12,000 shares of Weatherford International stock in a transaction dated Thursday, April 24th. The shares were bought at an average cost of $42.04 per share, for a total transaction of $504,480.00. Following the completion of the transaction, the director now owns 25,311 shares of the company's stock, valued at approximately $1,064,074.44. This trade represents a 90.15% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 1.60% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in shares of Weatherford International by 4.5% in the first quarter. Vanguard Group Inc. now owns 8,050,495 shares of the company's stock valued at $431,104,000 after purchasing an additional 347,584 shares in the last quarter. Capital Research Global Investors raised its stake in Weatherford International by 295.9% in the fourth quarter. Capital Research Global Investors now owns 5,945,755 shares of the company's stock valued at $425,894,000 after buying an additional 4,443,823 shares during the period. T. Rowe Price Investment Management Inc. lifted its holdings in Weatherford International by 7.3% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 4,402,833 shares of the company's stock valued at $315,375,000 after purchasing an additional 298,811 shares during the last quarter. FMR LLC lifted its holdings in Weatherford International by 1.8% during the 4th quarter. FMR LLC now owns 3,638,934 shares of the company's stock valued at $260,657,000 after purchasing an additional 65,931 shares during the last quarter. Finally, Boston Partners boosted its position in Weatherford International by 5.5% during the fourth quarter. Boston Partners now owns 2,777,128 shares of the company's stock worth $198,877,000 after purchasing an additional 144,396 shares during the period. Institutional investors and hedge funds 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.

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