Weatherford International plc (NASDAQ:WFRD) Receives Average Rating of "Moderate Buy" from Analysts

Shares of Weatherford International plc (NASDAQ:WFRD - Get Free Report) have earned a consensus rating of "Moderate Buy" from the eight brokerages that are presently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $96.63.

Several equities analysts have weighed in on WFRD shares. Piper Sandler reduced their price objective on Weatherford International from $80.00 to $62.00 and set a "neutral" rating for the company in a report on Thursday, April 24th. Citigroup cut 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. Barclays decreased their price objective on Weatherford International from $85.00 to $77.00 and set an "overweight" rating on the stock in a report on Friday, April 25th. Finally, Raymond James downgraded Weatherford International from a "strong-buy" rating to an "outperform" rating and reduced their price target for the company from $73.00 to $69.00 in a report on Thursday, April 24th.

Insider Buying and Selling at Weatherford International

In related news, Director Neal P. Goldman acquired 12,000 shares of the company's stock in a transaction on Thursday, April 24th. The stock was acquired at an average price of $42.04 per share, with a total value of $504,480.00. Following the acquisition, the director now directly owns 25,311 shares of the company's stock, valued at approximately $1,064,074.44. This trade represents a 90.15% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Company insiders own 2.09% of the company's stock.

Institutional Investors Weigh In On Weatherford International

Institutional investors have recently bought and sold shares of the company. Capital Research Global Investors lifted its stake in shares of Weatherford International by 295.9% during the fourth quarter. Capital Research Global Investors now owns 5,945,755 shares of the company's stock worth $425,894,000 after buying an additional 4,443,823 shares during the period. Invesco Ltd. purchased a new position in shares of Weatherford International during the fourth quarter worth $104,287,000. Norges Bank purchased a new position in shares of Weatherford International during the fourth quarter worth $65,678,000. Millennium Management LLC raised its holdings in shares of Weatherford International by 429.2% during the first quarter. Millennium Management LLC now owns 1,103,067 shares of the company's stock worth $59,069,000 after purchasing an additional 894,636 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. raised its holdings in shares of Weatherford International by 181.7% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 1,303,007 shares of the company's stock worth $93,334,000 after purchasing an additional 840,456 shares during the last quarter. 97.23% of the stock is currently owned by institutional investors and hedge funds.

Weatherford International Price Performance

Shares of NASDAQ WFRD opened at $48.37 on Monday. The stock has a fifty day simple moving average of $44.91 and a two-hundred day simple moving average of $59.63. Weatherford International has a 1-year low of $36.74 and a 1-year high of $135.00. The firm has a market cap of $3.51 billion, a price-to-earnings ratio of 7.20, a price-to-earnings-growth ratio of 1.65 and a beta of 0.73. The company has a current ratio of 2.01, a quick ratio of 1.49 and a debt-to-equity ratio of 1.26.

Weatherford International (NASDAQ:WFRD - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The company reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.14. Weatherford International had a return on equity of 40.65% and a net margin of 9.18%. The business had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.21 billion. Analysts anticipate that Weatherford International 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 given a $0.25 dividend. The ex-dividend date was Tuesday, May 6th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.07%. Weatherford International's dividend payout ratio is currently 16.00%.

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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