Weatherford International (NASDAQ:WFRD) Stock Price Down 4.4% - What's Next?

Shares of Weatherford International PLC (NASDAQ:WFRD - Get Free Report) fell 4.4% on Monday . The company traded as low as $56.00 and last traded at $55.61. 140,307 shares traded hands during trading, a decline of 88% from the average session volume of 1,185,279 shares. The stock had previously closed at $58.15.

Analyst Ratings Changes

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

Weatherford International Trading Down 4.1%

The stock's fifty day moving average price is $49.54 and its 200 day moving average price is $55.22. The company has a debt-to-equity ratio of 1.16, a current ratio of 2.08 and a quick ratio of 1.52. The stock has a market capitalization of $4.04 billion, a P/E ratio of 8.92, a PEG ratio of 1.65 and a beta of 0.76.

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

Weatherford International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 5th. Stockholders of record on Tuesday, May 6th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date was Tuesday, May 6th. Weatherford International's payout ratio is presently 16.00%.

Insider Activity at Weatherford International

In related news, Director Neal P. Goldman purchased 12,000 shares of the business's stock in a transaction dated Thursday, April 24th. The shares were purchased at an average cost of $42.04 per share, for a total transaction of $504,480.00. Following the completion of the acquisition, the director owned 25,311 shares in the company, valued at approximately $1,064,074.44. This trade represents a 90.15% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 2.09% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in Weatherford International by 4.5% during the 1st quarter. Vanguard Group Inc. now owns 8,050,495 shares of the company's stock worth $431,104,000 after acquiring an additional 347,584 shares in the last quarter. Capital Research Global Investors grew its holdings in Weatherford International by 295.9% during the 4th quarter. Capital Research Global Investors now owns 5,945,755 shares of the company's stock worth $425,894,000 after acquiring an additional 4,443,823 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its position in shares of Weatherford International by 7.3% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 4,402,833 shares of the company's stock valued at $315,375,000 after buying an additional 298,811 shares during the last quarter. FMR LLC lifted its position in shares of Weatherford International by 1.8% during the fourth quarter. FMR LLC now owns 3,638,934 shares of the company's stock valued at $260,657,000 after buying an additional 65,931 shares during the last quarter. Finally, Boston Partners lifted its position in shares of Weatherford International by 5.5% during the fourth quarter. Boston Partners now owns 2,777,128 shares of the company's stock valued at $198,877,000 after buying an additional 144,396 shares during the last quarter. 97.23% of the stock is currently owned by institutional investors.

About Weatherford International

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.