Weatherford International plc (NASDAQ:WFRD) Short Interest Up 19.6% in May

Weatherford International plc (NASDAQ:WFRD - Get Free Report) was the target of a large growth in short interest during the month of May. As of May 15th, there was short interest totalling 3,240,000 shares, a growth of 19.6% from the April 30th total of 2,710,000 shares. Based on an average daily trading volume, of 1,540,000 shares, the days-to-cover ratio is presently 2.1 days. Approximately 4.6% of the shares of the company are sold short.

Insider Activity at Weatherford International

In related news, Director Neal P. Goldman bought 12,000 shares of the company's stock in a transaction that occurred on Thursday, April 24th. The shares were acquired at an average price of $42.04 per share, with a total value of $504,480.00. Following the completion of the transaction, the director now owns 25,311 shares of the company's stock, valued at $1,064,074.44. The trade was a 90.15% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.09% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Weatherford International

A number of hedge funds and other institutional investors have recently bought and sold shares of WFRD. New York Life Investment Management LLC bought a new position in shares of Weatherford International in the fourth quarter worth approximately $546,000. Amundi grew its stake in Weatherford International by 154.7% in the 4th quarter. Amundi now owns 38,993 shares of the company's stock worth $2,813,000 after buying an additional 23,685 shares in the last quarter. William Blair Investment Management LLC increased its holdings in shares of Weatherford International by 9.5% in the 4th quarter. William Blair Investment Management LLC now owns 500,005 shares of the company's stock worth $35,815,000 after buying an additional 43,182 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Weatherford International during the 4th quarter valued at $7,215,000. Finally, American Century Companies Inc. lifted its holdings in shares of Weatherford International by 29.4% during the 4th quarter. American Century Companies Inc. now owns 280,510 shares of the company's stock worth $20,093,000 after acquiring an additional 63,775 shares during the last quarter. Institutional investors own 97.23% of the company's stock.

Weatherford International Trading Up 0.5%

WFRD traded up $0.22 during midday trading on Thursday, hitting $46.83. 1,036,692 shares of the company were exchanged, compared to its average volume of 1,450,357. The firm has a market capitalization of $3.40 billion, a P/E ratio of 6.97, a P/E/G ratio of 1.65 and a beta of 0.73. The firm's 50 day moving average price is $45.16 and its 200-day moving average price is $60.45. The company has a quick ratio of 1.49, a current ratio of 2.01 and a debt-to-equity ratio of 1.26. Weatherford International has a 1-year low of $36.74 and a 1-year high of $135.00.

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

Weatherford International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Tuesday, May 6th will be paid a $0.25 dividend. The ex-dividend date is Tuesday, May 6th. This represents a $1.00 annualized dividend and a dividend yield of 2.14%. Weatherford International's payout ratio is presently 16.00%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on WFRD shares. Citigroup cut their price objective on Weatherford International from $90.00 to $70.00 and set a "buy" rating for the company in a research report on Tuesday, May 13th. Piper Sandler cut their price target on Weatherford International from $80.00 to $62.00 and set a "neutral" rating on the stock in a research note on Thursday, April 24th. Barclays decreased their price objective on Weatherford International from $85.00 to $77.00 and set an "overweight" rating for the company in a research note on Friday, April 25th. Benchmark cut their target price on Weatherford International from $140.00 to $125.00 and set a "buy" rating on the stock in a research note on Friday, February 7th. Finally, Raymond James lowered Weatherford International from a "strong-buy" rating to an "outperform" rating and decreased their target price for the stock from $73.00 to $69.00 in a research report on Thursday, April 24th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Weatherford International presently has an average rating of "Moderate Buy" and an average target price of $96.63.

About Weatherford International

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.