Weatherford International PLC (NASDAQ:WFRD) Receives $97.63 Consensus PT from Brokerages

Key Points

• Weatherford International PLC has been rated a "Moderate Buy" by eight research firms, with a twelve-month price objective averaging $97.63.
• Recent earnings surpassed expectations, with the company reporting $1.87 earnings per share compared to a consensus estimate of $0.97.
• A quarterly dividend of $0.25 per share has been announced, reflecting a 1.70% yield and a 15.48% payout ratio.

Shares of Weatherford International PLC (NASDAQ:WFRD - Get Free Report) have earned an average rating of "Moderate Buy" from the eight ratings firms that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $97.63.

Several research analysts have commented on the company. Piper Sandler upgraded Weatherford International from a "neutral" rating to an "overweight" rating and raised their price objective for the stock from $62.00 to $73.00 in a report on Monday. Raymond James Financial reiterated an "outperform" rating and issued a $70.00 price target (up from $69.00) on shares of Weatherford International in a report on Thursday, July 24th. Citigroup cut their price target on Weatherford International from $90.00 to $70.00 and set a "buy" rating on the stock in a report on Tuesday, May 13th. Finally, Barclays cut their price target on Weatherford International from $77.00 to $73.00 and set an "overweight" rating on the stock in a report on Thursday, July 24th.

Weatherford International Trading Down 3.5%

WFRD traded down $1.96 during trading on Tuesday, hitting $54.59. 326,673 shares of the stock were exchanged, compared to its average volume of 1,363,594. The firm has a 50 day simple moving average of $51.91 and a 200 day simple moving average of $54.03. The firm has a market cap of $3.92 billion, a price-to-earnings ratio of 8.45, a P/E/G ratio of 1.69 and a beta of 0.76. Weatherford International has a 1 year low of $36.74 and a 1 year high of $111.23. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.63 and a current ratio of 2.21.

Weatherford International (NASDAQ:WFRD - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The company reported $1.87 EPS for the quarter, topping the consensus estimate of $0.97 by $0.90. The company had revenue of $1.20 billion for 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%. Weatherford International's quarterly revenue was down 14.3% on a year-over-year basis. During the same period last year, the business posted $1.66 EPS. As a group, equities analysts expect that Weatherford International will post 5.89 EPS for the current year.

Weatherford International Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Wednesday, August 6th will be given a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, August 6th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.8%. Weatherford International's dividend payout ratio (DPR) is presently 15.48%.

Institutional Trading of Weatherford International

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of Weatherford International by 4.5% in the 1st quarter. Vanguard Group Inc. now owns 8,050,495 shares of the company's stock worth $431,104,000 after purchasing an additional 347,584 shares in the last quarter. Capital Research Global Investors boosted its position in shares of Weatherford International by 295.9% in the 4th quarter. Capital Research Global Investors now owns 5,945,755 shares of the company's stock worth $425,894,000 after purchasing an additional 4,443,823 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its position in shares of Weatherford International by 7.3% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 4,402,833 shares of the company's stock worth $315,375,000 after purchasing an additional 298,811 shares in the last quarter. FMR LLC boosted its position in shares of Weatherford International by 1.8% in the 4th quarter. FMR LLC now owns 3,638,934 shares of the company's stock worth $260,657,000 after purchasing an additional 65,931 shares in the last quarter. Finally, Invesco Ltd. boosted its position in shares of Weatherford International by 2.0% in the 1st quarter. Invesco Ltd. now owns 1,485,746 shares of the company's stock worth $79,562,000 after purchasing an additional 29,840 shares in the last quarter. 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.