Weatherford International PLC (NASDAQ:WFRD) Receives $96.63 Consensus PT from Analysts

Shares of Weatherford International PLC (NASDAQ:WFRD - Get Free Report) have earned an average recommendation of "Moderate Buy" from the eight research firms that are currently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to 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.

A number of research firms recently weighed in on WFRD. Raymond James Financial downgraded Weatherford International from a "strong-buy" rating to an "outperform" rating and decreased their price target for the company from $73.00 to $69.00 in a research note on Thursday, April 24th. 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 reduced their price objective on Weatherford International from $90.00 to $70.00 and set a "buy" rating for the company in a report on Tuesday, May 13th. Finally, Barclays reduced their price objective on Weatherford International from $85.00 to $77.00 and set an "overweight" rating for the company in a report on Friday, April 25th.

Weatherford International Price Performance

Shares of Weatherford International stock traded down $1.21 during trading on Friday, reaching $52.94. The company's stock had a trading volume of 785,551 shares, compared to its average volume of 1,179,679. The company has a quick ratio of 1.52, a current ratio of 2.08 and a debt-to-equity ratio of 1.16. Weatherford International has a 12-month low of $36.74 and a 12-month high of $135.00. The company has a market capitalization of $3.84 billion, a P/E ratio of 8.47, a price-to-earnings-growth ratio of 1.54 and a beta of 0.76. The business has a 50 day moving average price of $48.16 and a 200-day moving average price of $55.61.

Weatherford International (NASDAQ:WFRD - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The company reported $1.03 earnings per share for the quarter, beating analysts' consensus estimates of $0.89 by $0.14. Weatherford International had a return on equity of 35.88% and a net margin of 8.79%. The firm had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.21 billion. As a group, sell-side analysts anticipate that Weatherford International will post 5.89 EPS for the current year.

Weatherford International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 5th. Stockholders of record on Tuesday, May 6th were issued a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, May 6th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.89%. Weatherford International's dividend payout ratio (DPR) is 16.00%.

Insider Buying and Selling at Weatherford International

In related news, Director Neal P. Goldman purchased 12,000 shares of the business's stock in a transaction dated Thursday, April 24th. The stock was bought at an average cost of $42.04 per share, with a total value of $504,480.00. Following the completion of the acquisition, the director directly owned 25,311 shares in the company, valued at $1,064,074.44. The trade was a 90.15% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Weatherford International

A number of institutional investors have recently made changes to their positions in the stock. Xponance Inc. raised its holdings in shares of Weatherford International by 1.0% in the fourth quarter. Xponance Inc. now owns 17,072 shares of the company's stock worth $1,223,000 after acquiring an additional 167 shares during the last quarter. Treasurer of the State of North Carolina grew its position in shares of Weatherford International by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 31,730 shares of the company's stock valued at $2,273,000 after purchasing an additional 200 shares during the period. Lindbrook Capital LLC grew its position in shares of Weatherford International by 130.8% in the fourth quarter. Lindbrook Capital LLC now owns 360 shares of the company's stock valued at $26,000 after purchasing an additional 204 shares during the period. Covestor Ltd grew its position in shares of Weatherford International by 30.1% in the fourth quarter. Covestor Ltd now owns 926 shares of the company's stock valued at $66,000 after purchasing an additional 214 shares during the period. Finally, Gradient Investments LLC grew its position in shares of Weatherford International by 1.4% in the first quarter. Gradient Investments LLC now owns 16,080 shares of the company's stock valued at $861,000 after purchasing an additional 228 shares during the period. 97.23% of the stock is owned by institutional investors and hedge funds.

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.