Analysts Set Weatherford International plc (NASDAQ:WFRD) PT at $96.63

Weatherford International plc (NASDAQ:WFRD - Get Free Report) has earned a consensus rating of "Moderate Buy" from the eight ratings firms that are covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $96.63.

Several brokerages have weighed in on WFRD. Citigroup reduced their price objective on Weatherford International from $90.00 to $70.00 and set a "buy" rating on the stock in a research note on Tuesday, May 13th. Raymond James downgraded Weatherford International from a "strong-buy" rating to an "outperform" rating and cut their target price for the company from $73.00 to $69.00 in a research report on Thursday, April 24th. Piper Sandler lowered their price target on Weatherford International from $80.00 to $62.00 and set a "neutral" rating for the company in a research report on Thursday, April 24th. Finally, Barclays dropped their price objective on shares of Weatherford International from $85.00 to $77.00 and set an "overweight" rating for the company in a research note on Friday, April 25th.

Insider Transactions at Weatherford International

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

Hedge Funds Weigh In On Weatherford International

A number of hedge funds have recently added to or reduced their stakes in the stock. Barclays PLC grew its stake in Weatherford International by 59.4% in the third quarter. Barclays PLC now owns 31,349 shares of the company's stock worth $2,663,000 after purchasing an additional 11,680 shares in the last quarter. Empowered Funds LLC lifted its holdings in shares of Weatherford International by 34.9% in the 4th quarter. Empowered Funds LLC now owns 95,190 shares of the company's stock worth $6,818,000 after buying an additional 24,637 shares during the period. Empirical Finance LLC grew its position in shares of Weatherford International by 130.2% during the 4th quarter. Empirical Finance LLC now owns 11,076 shares of the company's stock worth $793,000 after buying an additional 6,264 shares in the last quarter. Van ECK Associates Corp increased its stake in shares of Weatherford International by 28.6% during the fourth quarter. Van ECK Associates Corp now owns 917,530 shares of the company's stock valued at $65,723,000 after buying an additional 204,317 shares during the period. Finally, Stanley Laman Group Ltd. bought a new stake in shares of Weatherford International in the fourth quarter valued at about $2,785,000. 97.23% of the stock is currently owned by institutional investors.

Weatherford International Price Performance

Shares of NASDAQ WFRD traded up $0.21 during midday trading on Monday, reaching $52.47. 626,143 shares of the stock traded hands, compared to its average volume of 1,188,708. The company's 50 day moving average is $45.18 and its 200 day moving average is $59.27. Weatherford International has a one year low of $36.74 and a one year high of $135.00. The company has a debt-to-equity ratio of 1.26, a current ratio of 2.01 and a quick ratio of 1.49. The stock has a market capitalization of $3.81 billion, a PE ratio of 7.81, a P/E/G ratio of 1.65 and a beta of 0.73.

Weatherford International (NASDAQ:WFRD - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The company reported $1.03 EPS for the quarter, topping analysts' consensus estimates of $0.89 by $0.14. Weatherford International had a net margin of 9.18% and a return on equity of 40.65%. The business had revenue of $1.19 billion during the quarter, compared to analysts' expectations of $1.21 billion. On average, equities research analysts anticipate that Weatherford International will post 5.89 earnings per share for the current year.

Weatherford International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 5th. Stockholders of record on Tuesday, May 6th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date was Tuesday, May 6th. 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.