Weatherford International PLC (NASDAQ:WFRD) Announces Quarterly Dividend of $0.25

Weatherford International PLC (NASDAQ:WFRD - Get Free Report) announced a quarterly dividend on Thursday, July 17th, Wall Street Journal reports. Investors of record on Wednesday, August 6th will be given a dividend of 0.25 per share on Thursday, September 4th. This represents a $1.00 annualized dividend and a yield of 1.75%. The ex-dividend date is Wednesday, August 6th.

Weatherford International Price Performance

NASDAQ WFRD traded down $0.67 during trading on Friday, hitting $57.23. 314,356 shares of the company's stock were exchanged, compared to its average volume of 1,376,126. The company has a current ratio of 3.18, a quick ratio of 1.52 and a debt-to-equity ratio of 1.03. The company has a market cap of $4.15 billion, a PE ratio of 8.85, a P/E/G ratio of 1.86 and a beta of 0.76. Weatherford International has a fifty-two week low of $36.74 and a fifty-two week high of $121.69. The stock's 50 day moving average price is $50.81 and its two-hundred day moving average price is $54.51.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. United Services Automobile Association acquired a new position in shares of Weatherford International in the first quarter valued at approximately $258,000. Royal Bank of Canada increased its position in Weatherford International by 223.0% during the 1st quarter. Royal Bank of Canada now owns 122,662 shares of the company's stock valued at $6,568,000 after purchasing an additional 84,684 shares during the period. Finally, Goldman Sachs Group Inc. increased its position in Weatherford International by 129.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 143,703 shares of the company's stock valued at $7,695,000 after purchasing an additional 81,046 shares during the period. Institutional investors and hedge funds own 97.23% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on WFRD shares. Piper Sandler lowered their target price on Weatherford International from $80.00 to $62.00 and set a "neutral" rating for the company in a research note on Thursday, April 24th. Barclays lowered their target price on Weatherford International from $77.00 to $73.00 and set an "overweight" rating for the company in a research note on Thursday. Citigroup lowered their target price on Weatherford International from $90.00 to $70.00 and set a "buy" rating for the company in a research note on Tuesday, May 13th. Finally, Raymond James Financial reaffirmed an "outperform" rating and issued a $70.00 price objective (up previously from $69.00) on shares of Weatherford International in a research note on Thursday. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $96.25.

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.