Weatherford International PLC (NASDAQ:WFRD) Given Consensus Rating of "Moderate Buy" by Brokerages

Key Points

• Weatherford International PLC has received a consensus rating of "Moderate Buy" from eleven research firms, with an average price target of $99.70.
• The company's stock recently experienced a 4.5% increase, and it reported earnings of $1.87 per share**, significantly exceeding analyst expectations.
• Weatherford International announced a quarterly dividend of $0.25, resulting in an annualized yield of 1.6% and a dividend payout ratio of 15.48%.

Weatherford International PLC (NASDAQ:WFRD - Get Free Report) has received an average recommendation of "Moderate Buy" from the eleven research firms that are presently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $99.70.

A number of brokerages have recently issued reports on WFRD. Piper Sandler upgraded shares of Weatherford International from a "neutral" rating to an "overweight" rating and raised their price target for the stock from $62.00 to $73.00 in a report on Monday, July 28th. Barclays cut 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, July 24th. Zacks Research upgraded Weatherford International from a "strong sell" rating to a "hold" rating in a research report on Monday, August 25th. Melius Research assumed coverage on Weatherford International in a report on Wednesday, August 20th. They set a "buy" rating and a $108.00 price target for the company. Finally, Melius began coverage on Weatherford International in a research report on Wednesday, August 20th. They set a "buy" rating and a $108.00 price objective for the company.

Weatherford International Stock Up 4.5%

NASDAQ WFRD opened at $64.14 on Wednesday. The business's fifty day simple moving average is $58.54 and its 200-day simple moving average is $52.04. The company has a quick ratio of 1.63, a current ratio of 2.21 and a debt-to-equity ratio of 1.03. The firm has a market cap of $4.61 billion, a PE ratio of 9.93, a P/E/G ratio of 1.68 and a beta of 0.78. Weatherford International has a 52 week low of $36.74 and a 52 week high of $98.21.

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

Weatherford International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Wednesday, August 6th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Wednesday, August 6th. Weatherford International's dividend payout ratio is currently 15.48%.

Institutional Trading of Weatherford International

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. IFP Advisors Inc boosted its position in shares of Weatherford International by 14.2% during the second quarter. IFP Advisors Inc now owns 1,500 shares of the company's stock worth $75,000 after buying an additional 187 shares during the period. Treasurer of the State of North Carolina lifted its stake in Weatherford International by 0.7% during the 2nd quarter. Treasurer of the State of North Carolina now owns 33,245 shares of the company's stock worth $1,673,000 after acquiring an additional 225 shares in the last quarter. Gradient Investments LLC lifted its stake in Weatherford International by 1.4% during the 1st quarter. Gradient Investments LLC now owns 16,080 shares of the company's stock worth $861,000 after acquiring an additional 228 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Weatherford International by 55.8% during the 1st quarter. GAMMA Investing LLC now owns 645 shares of the company's stock valued at $35,000 after acquiring an additional 231 shares during the period. Finally, Smartleaf Asset Management LLC grew its position in Weatherford International by 69.8% in the 2nd quarter. Smartleaf Asset Management LLC now owns 584 shares of the company's stock valued at $29,000 after acquiring an additional 240 shares in the last quarter. Hedge funds and other institutional investors 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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