Weatherford International PLC (NASDAQ:WFRD) Receives Consensus Rating of "Moderate Buy" from Brokerages

Key Points

• Weatherford International has a “Moderate Buy” consensus rating from 11 analysts, with eight buy ratings and three holds. The average 12-month price target is $113.56, above the stock’s reported $86.82 price.
• The company’s latest quarterly results were mixed: revenue of $1.10 billion exceeded estimates, but EPS of $0.55 fell short of the $0.90 consensus, while revenue declined 8.2% year over year.
• Two directors sold a combined 22,000 shares, reducing their holdings, although institutional investors own a substantial 97.23% of outstanding shares. Weatherford also announced a quarterly dividend of $0.275 per share, implying a 1.3% yield.

Weatherford International PLC (NASDAQ:WFRD - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the eleven brokerages that are currently covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $113.5556.

Several research analysts have recently weighed in on WFRD shares. Piper Sandler boosted their price target on Weatherford International from $115.00 to $118.00 and gave the stock an "overweight" rating in a research note on Thursday, April 23rd. Citigroup reduced their price objective on Weatherford International from $137.00 to $115.00 and set a "buy" rating for the company in a report on Friday, June 26th. Raymond James Financial decreased their target price on Weatherford International from $125.00 to $122.00 and set an "outperform" rating for the company in a research report on Friday, July 10th. Wall Street Zen downgraded shares of Weatherford International from a "buy" rating to a "hold" rating in a report on Saturday, July 4th. Finally, UBS Group upgraded shares of Weatherford International from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $113.00 to $114.00 in a research note on Wednesday, July 29th.

Insiders Place Their Bets

In related news, Director Neal P. Goldman sold 16,000 shares of Weatherford International stock in a transaction on Thursday, July 23rd. The stock was sold at an average price of $84.84, for a total value of $1,357,440.00. Following the completion of the sale, the director owned 12,187 shares of the company's stock, valued at $1,033,945.08. The trade was a 56.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Benjamin Duster sold 6,000 shares of the company's stock in a transaction on Thursday, July 23rd. The shares were sold at an average price of $86.09, for a total value of $516,540.00. Following the sale, the director owned 11,187 shares of the company's stock, valued at approximately $963,088.83. This trade represents a 34.91% decrease in their position. The SEC filing for this sale provides additional information. 2.07% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Weatherford International

A number of large investors have recently made changes to their positions in WFRD. Smartleaf Asset Management LLC lifted its stake in shares of Weatherford International by 127.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 318 shares of the company's stock worth $25,000 after purchasing an additional 178 shares during the period. Los Angeles Capital Management LLC purchased a new stake in Weatherford International during the fourth quarter valued at approximately $26,000. Plato Investment Management Ltd purchased a new stake in Weatherford International during the second quarter valued at approximately $38,000. Leonteq Securities AG bought a new position in Weatherford International in the fourth quarter worth approximately $39,000. Finally, EverSource Wealth Advisors LLC raised its position in Weatherford International by 83.5% in the second quarter. EverSource Wealth Advisors LLC now owns 556 shares of the company's stock worth $28,000 after acquiring an additional 253 shares during the period. 97.23% of the stock is currently owned by institutional investors.

Weatherford International Price Performance

Shares of WFRD opened at $86.82 on Friday. Weatherford International has a twelve month low of $52.70 and a twelve month high of $113.15. The company has a market capitalization of $6.22 billion, a P/E ratio of 17.12, a price-to-earnings-growth ratio of 1.49 and a beta of 0.87. The firm has a 50 day moving average of $88.92 and a 200 day moving average of $95.80. The company has a quick ratio of 1.77, a current ratio of 2.34 and a debt-to-equity ratio of 0.81.

Weatherford International (NASDAQ:WFRD - Get Free Report) last released its quarterly earnings data on Tuesday, July 21st. The company reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.90 by ($0.35). Weatherford International had a net margin of 7.66% and a return on equity of 21.50%. The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same period last year, the company posted $1.87 earnings per share. The business's revenue was down 8.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Weatherford International will post 5.35 earnings per share for the current fiscal year.

Weatherford International Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Thursday, August 6th will be given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Thursday, August 6th. Weatherford International's payout ratio is 21.70%.

Weatherford International Company Profile

Weatherford International NASDAQ: WFRD is a global oilfield services company specializing in the development, design and manufacturing of equipment and technologies for oil and natural gas drilling, evaluation, completion and production. The company’s core offerings include well construction services such as directional drilling and wellbore positioning, well completion solutions that encompass sand control and zonal isolation technologies, and production enhancement services involving artificial lift systems and well intervention tools.

In addition to its comprehensive service lines, Weatherford provides a range of drilling optimization and reservoir evaluation products.

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