Weatherford International (NASDAQ:WFRD) Trading 4.6% Higher - Should You Buy?

Key Points

• Weatherford International's stock rose 4.6% to $59.50, despite a significant drop in trading volume (67% less than average), indicating investor interest amidst price fluctuations.
• Analysts have a consensus rating of "Moderate Buy" for Weatherford International, with price targets ranging from $70.00 to $97.63, reflecting strong growth expectations.
• The company reported a quarterly EPS of $1.87, significantly surpassing analyst expectations, along with a revenue of $1.20 billion, indicating robust financial performance despite a year-over-year revenue decline.

Weatherford International PLC (NASDAQ:WFRD - Get Free Report)'s share price traded up 4.6% during mid-day trading on Monday . The company traded as high as $60.11 and last traded at $59.50. 458,613 shares were traded during mid-day trading, a decline of 67% from the average session volume of 1,373,870 shares. The stock had previously closed at $56.86.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Raymond James Financial reiterated an "outperform" rating and set a $70.00 price objective (up from $69.00) on shares of Weatherford International in a research note on Thursday. Piper Sandler upgraded shares of Weatherford International from a "neutral" rating to an "overweight" rating and raised their price objective for the company from $62.00 to $73.00 in a research report on Monday. Citigroup reduced their price target on shares of Weatherford International from $90.00 to $70.00 and set a "buy" rating for the company in a research report on Tuesday, May 13th. Finally, Barclays cut their price objective on shares of Weatherford International from $77.00 to $73.00 and set an "overweight" rating on the stock in a research report on Thursday. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $97.63.

Weatherford International Stock Up 3.7%

The stock has a 50 day moving average price of $50.98 and a 200 day moving average price of $54.14. The stock has a market capitalization of $4.24 billion, a price-to-earnings ratio of 9.13, a price-to-earnings-growth ratio of 1.70 and a beta of 0.76. The company has a quick ratio of 1.63, a current ratio of 2.21 and a debt-to-equity ratio of 1.03.

Weatherford International (NASDAQ:WFRD - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The company reported $1.87 EPS for the quarter, beating analysts' consensus estimates of $0.97 by $0.90. Weatherford International had a return on equity of 34.87% and a net margin of 9.35%. The firm had revenue of $1.20 billion for the quarter, compared to analysts' expectations of $1.19 billion. During the same quarter in the prior year, the firm earned $1.66 EPS. The business's revenue for the quarter was down 14.3% compared to the same quarter last year. As a group, analysts forecast that Weatherford International PLC will post 5.89 EPS for the current year.

Weatherford International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Wednesday, August 6th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date is Wednesday, August 6th. Weatherford International's dividend payout ratio (DPR) is 15.48%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in WFRD. IFP Advisors Inc lifted its stake in Weatherford International by 14.2% during the second quarter. IFP Advisors Inc now owns 1,500 shares of the company's stock valued at $75,000 after purchasing an additional 187 shares during the last quarter. Treasurer of the State of North Carolina lifted its holdings in shares of Weatherford International by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 31,730 shares of the company's stock worth $2,273,000 after acquiring an additional 200 shares during the period. Covestor Ltd increased its position in shares of Weatherford International by 30.1% during the 4th quarter. Covestor Ltd now owns 926 shares of the company's stock worth $66,000 after purchasing an additional 214 shares in the last quarter. Gradient Investments LLC increased its position in Weatherford International by 1.4% in the 1st quarter. Gradient Investments LLC now owns 16,080 shares of the company's stock valued at $861,000 after acquiring an additional 228 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of Weatherford International by 55.8% in the 1st quarter. GAMMA Investing LLC now owns 645 shares of the company's stock valued at $35,000 after purchasing an additional 231 shares during the last quarter. 97.23% of the stock is owned by hedge funds and other institutional investors.

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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